The UAE Ministry of Finance has released a consultation document outlining plans to implement electronic invoicing (e-invoicing).
The consultation seeks to:
- Establish a common understanding of data elements used in e-invoices across business communities;
- Understand the practical requirements of businesses, and in the process, identify any gaps or additional data fields necessary for operational, regulatory, or analytical purposes; and
- Obtain diverse perspectives, including from industry experts, accounting firms, and e-invoicing service providers, to create a holistic and widely accepted electronic invoicing framework.
The consultation is set to conclude on 27 February 2025.
Earlier, the UAE Ministry of Finance (MoF) announced in October 2024 its plans to implement a mandatory electronic invoicing (e-invoicing) system for business-to-business (B2B) and business-to-government (B2G) transactions.
