The generation of invoices and credit notes must adhere to specific requirements to ensure compliance.
Formats:
Invoices must be produced in a machine-readable format, typically XML or JSON, following structured standards such as UBL or PINT AE. PDFs alone are not considered valid e-invoices.
Accredited Service Providers (ASPs):
Businesses are required to utilize an ASP for the validation and transmission of invoices. Interaction between the issuer and recipient may also occur through ASPs.
Transmission & Reporting:
The issuance of an e-invoice must be reported to the Federal Tax Authority (FTA) via the ASP within designated timeframes. Compliance with the rules regarding the timing of this reporting is essential.
Data Dictionary & Mandatory Fields:
The Ministry of Finance has released a “data dictionary” that outlines the mandatory fields required in an e-invoice, including seller and buyer details, TRNs, invoice number and date, line items, and VAT breakdown. Updates are also being made to ensure that certain fields are displayed in a human-readable format.
Storage / Archiving:
E-invoices and credit notes must be stored locally in the UAE and retained in accordance with legal requirements for audits and other purposes.
BITS IT Solutions LLC
Al Quoz, Sheikh Zayed Road, Dubai, UAE
Phone: +971 4 229 8629 / +971 55 889 4404
Email: info@bitsitworld.com
Website: https://www.bitsitworld.com/
