UAE VAT invoice update
- Sep 11, 2018 | Richard Asquith
The United Arab Emirates’ Federal Tax Authority has published VAT invoice guidance. This covers:
- VAT invoices must be provided to customers for all taxable supplies;
- Full invoice must detail for each line item the VAT and net values per supply;
- Simplified invoices need not split out the net VAT amount where multiple supplies are made;
- Foreign currency invoices must detail the VAT due in AED, including the exchange rate applied; and
- Where rounding of amounts is performed, this should be at Fils to two decimal places.