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New UAE Rule- Mandatory Attestation required for Import Invoices more than Dh 10000
Dubai January 18, 2023:
Companies in the UAE will soon be required to attest import invoices with a value of Dh 10,000 and above, according to the UAE Ministry of Foreign Affairs and International Cooperation. The attestation cost of Dh 150 per commercial invoice will be applicable, and customers will have a grace period of 14 days after the declaration of goods to comply with the attestation. Failure to do so will result in a penalty of Dh 500 per invoice levied by the UAE Ministry of Foreign Affairs and International Cooperation (Mofaic) on the non-complying businesses.
According to a tweet issued by Mofaic — as per Cabinet Resolution No. 38 of 2022 regarding fees for certification of invoices and certificates of origin for imports into the UAE — this new rule will come into effect on February 1, 2023. This new regulation will apply to all goods imported into the UAE with a value of Dh 10,000 and above and the attestation of Invoices will be done electronically.
Contact our tax experts for more details.