In brief
The UAE Ministry of Finance (MOF) has launched a public consultation on UAE e-invoicing. Interested parties are invited to provide their insight through the specific questionnaire on the portal of MOF. The deadline for submission of comments is 27 February 2025.
Summary of the document
The document contains the details of the data dictionary that will apply to various transactions. The document is structured on the basis of use cases.
The mandatory schemes are applicable for the following types of documents:
- Tax invoice
- Tax credit note
- Commercial invoice
- Self-invoicing (tax invoice and credit note)
Due to specific requirements/details, a number of use cases are included that provide additional requirements to the mandatory schemes above:
- Summary invoice
- Continuous supplies
- Deemed supplies
- Supplies subject to local reverse charge and zero-rate
- Export supplies
- Other examples
The document also provides a visual summary of mandatory fields and comparisons to current invoice requirements. For a standard tax invoice, the number of mandatory fields under the e-invoicing scheme will be 50, whereas only 15 new fields are added as compared to the current list of mandatory requirements as per UAE VAT legislation.
Given the broad impact on the VAT taxpayers in the UAE, it is crucial for businesses to review the document and assess their readiness for these new requirements. For any parties that have specific inputs on the document, this is a chance to participate in the shaping of the tax policy in the UAE.
KPMG has a team of experienced tax specialists that can help you assess your current position, advise on the next steps, or help you draft your feedback for submission to MOF.
We are happy to discuss your specific circumstances with you and determine the way forward should you have any questions or concerns in this regard. Please get in touch with your usual KPMG contact or any of the tax professionals below.
