United Arab Emirates, 14 February, 2024
The UAE has announced the introduction of a new E-Invoicing System
The United Arab Emirates’ Ministry of Finance has announced the introduction of a new e-Invoicing System, starting February 14, 2024. This system operates on a Decentralized Continuous Transactions Control and Exchange (DCTCE) model for electronic invoice circulation among businesses and government entities, eliminating the need for direct Tax Authority validation.
The significant dates for this initiative:
✔ Q3 2024: Establishment of Certification Requirements for Service Providers and Development of the Data Dictionary.
✔ Q2 2025: Introduction of Legislation for e-Invoicing.
✔ December 2025: Rollout of the Strategy
✔ July 2026: Launch of Phase 1 Implementation.