UAE launches e-invoicing ‘4-Corner’ model to advance digital tax system

Date:

The UAE’s Ministry of Finance said on Tuesday it has launched an electronic invoicing “4-Corner” model, allowing businesses to exchange invoices through accredited service providers as part of a broader push to digitise the country’s financial ecosystem.

The system enables companies to send and receive e-invoices via approved channels, with firms able to select an accredited provider through the EmaraTax platform and begin onboarding.

Under the model, businesses enter into agreements with service providers before initiating invoice exchanges between suppliers and customers, improving transaction efficiency and compliance.

“This milestone reflects the UAE’s continued commitment to advancing its digital financial ecosystem in line with global best practice,” said Younis Haji AlKhoori, Undersecretary at the ministry.

He added that the framework would enhance transparency and integration across the tax system while supporting the country’s efforts to build a competitive, technology-driven economy.

The ministry said an additional tax reporting function, referred to as “Corner 5”, is expected to go live ahead of a pilot phase scheduled for July.

The initiative aligns with international standards for e-invoicing and is designed to support scalability and interoperability as adoption increases, the ministry said, urging businesses to begin onboarding with accredited providers.

Read More: UAE’s AI Champion Presses On With Expansion, Looking Past Iran War

Subscribe

spot_img

Popular

Related
Related

Ethiopia: Sweeps Elite Titles at NMDC Hyderabad Marathon as Indian Runners Shine

Ethiopian athletes sweep Hyderabad Marathon elite titles while Indian runners deliver strong performances, highlighting growing international competition in distance running.

Brazil: Launches New Initiative to Strengthen Trade Ties With Southern African Nations

Brazil launches a new initiative to expand trade, investment, and business cooperation with Southern African nations and emerging markets.

Egypt: Food Exports Reach 172,000 Tonnes in One Week, While Imports Rise to 218,000 Tonnes

Egypt exports 172,000 tonnes of food while imports reach 218,000 tonnes, highlighting strong agricultural trade and international market demand.

Saudi Arabia: Stocks End Lower as Tadawul All Share Index Slips 0.71%

Saudi stocks finish lower as Tadawul falls 0.71%, with broader market weakness and cautious investor sentiment weighing on trading.