UAE VAT invoice update

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.

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