Digital Age in UAE
Digital Age in UAE begins. It recognized the importance of e-invoicing and accepted use of e-invoices across the country. Federal Law No. 1 of 2006 on e-Commerce and Transactions applies to documents and signatures related to commerce. Besides, the use of e-invoices provides legal recognition. Finally law establishes uniform rules, regulations, and standards for the verification and validity of electronic communications, including electronic invoicing and the use of electronic signatures.
With the Federal Law No. 1 2006 on Electronic Commerce and Transactions,
- Filing, presentation, creation, or storage of documents provides in digital form,
- Any permission, license, decision, or approval is issued electronically,
- Fees and other payments are accepted electronically,
- Regarding government tenders, you can place auctions and receive bids electronically.
Federal Decree-Law No. 8 of 2017 on VAT accepts the tax invoice in written and electronic forms.
The Ministry of Finance uses the e-Procurement system that automates the entire purchasing cycle until the wage payment process completes. The system allows suppliers to participate online in tenders and auctions offered by the UAE’s ministries and federal agencies. It provides suppliers to track purchase orders and send digital invoices.
Similarly, Telecommunications Regulatory Authority’s e-invoicing system allows contracted suppliers to send invoices electronically. Moreover TRA’s system makes track financial payments, purchase orders, contracts through electronic alerts.
In 2021, the Government of Dubai Smart will become completely paperless. Thus, eliminating more than 1 billion pieces of paper used for government transactions each year will save time&money. As a fully digital government, 100 percent of customer transactions digitalize in 2021. It means that Government will no longer request paper documents in all of its operations. Smart Dubai focuses on implementing a legal framework to handle technology&digital procedures required to enable paperless transactions.
Digital Age in UAE +Melasoft