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FinancialNews


  • 03-01-18

    UAE MoF: first VAT inclusive purchase order issued

    (MENAFN) The first VAT inclusive purchase order has been issued Tuesday by the UAE's Ministry of Finance (MoF) as it accepted the first VAT invoice on its federal financial system.

    The federal financial system has been declared by the Ministry to have been upgraded and enabled to handle all financial transactions connected with VAT.

    The Ministry announced that it offers a technical support team along with a cell phone digit set to answer all concerns about VAT from any federal entities tied to the system.

    The Management of Financial Resources' Assistant Undersecretary Mariam Al Amiri stated "the Ministry of Finance continues its efforts to facilitate all government finance procedures, specifically VAT transactions. Issuing the first purchase invoice reflects the efficiency and ease of use of the system, and highlights the Ministry's efforts to facilitate procurement processes for all federal entities linked to the federal financial system."

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