In brief
The UAE Ministry of Finance has launched the accreditation process for UAE e-invoicing. The e-invoicing service providers who intend to become Accredited Service Providers (ASP) in the UAE are now invited to use this service to obtain accreditation.
The dedicated portal on the site of Ministry of Finance explains the purpose, process, conditions and required documentation for the application process.
In line with previous announcements of the Ministry of Finance, the main purpose of the accreditation is to have a system in place that verifies the ability of the service providers to comply with PEPPOL (Pan-European Public Procurement Online) standards while ensuring controls around exchange of invoices and data reporting with ultimate goal of protecting interests of business and UAE government.
The conditions and required documents showcase that there will be formal as well as technical requirements imposed on service providers.
Formal requirements:
- Company registration requirements (Trade license, paid-up capital, power of attorney)
- Tax obligations compliance (Corporate Tax registration certificate)
- ISO certification (22301, 27001)
- Insurance
Technical requirements:
- Active PEPPOL certification (PKI certificate)
- Details of technical design, authentication, encryption, security, support/maintenance and upgrade handling
- Proof of minimum of 2 years of e-invoicing experience
The portal mentions that the accreditation process may take up to 90 working days. Therefore, it may take some time before the list of ASP is announced by the Ministry of Finance.
However, this does not preclude the businesses from taking initial steps in its readiness journey towards e-invoicing. With the available information about the model and draft data dictionary in place, the businesses can start reviewing their business transactions, levels of automation and master data availability. Improved levels of automation and data availability will ease the ASP selection, onboarding and implementation process.
KPMG has a team of experienced tax specialists that can help you assess your current position, advise on the next steps, and define requirements for your ASP selection process. Through KPMG global alliances with major e-invoicing service providers, we can put you in contact with global players with proven track record in this field for your selection process.
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.
