MoF approves first purchase invoice with VAT
The Ministry of Finance, MoF, today issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system, becoming the first federal entity to implement tax procedures and issue a tax invoice in 2018.
The ministry provides a fully-integrated system, a technical support team, as well as a telephone number dedicated to respond to any inquiries related to VAT from any federal entities linked to the system.
Mariam Al Amiri, Assistant Under-Secretary for the Management of Financial Resources emphasised the ministry’s commitment to the country’s laws and regulations, including the tax system. "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," Al Amiri said.
VAT was introduced on 1st January, 2018, in accordance with the unified VAT Agreement for the Cooperation Council of the Arab States of the Gulf. Over the past months, the Ministry of Finance and the Federal Tax Authority have held a series of workshops, and practical training sessions for users of the federal financial system, to build awareness on the tax system, including its role in the fulfilment of our leadership’s vision to build a sustainable knowledge economy for future generations.
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