Mandatory Attestation for Imports
UAE: Mandatory Attestation for Import Invoices worth Dh10,000 above
The United Arab Emirates has announced a new rule that all import invoices worth Dh10,000 or more will now require an attestation from the buyer. If violators are caught without the required document, they will face fines of up to Dh5,000. The new regulation is part of efforts by the UAE government to improve transparency and curb corruption.
The UAE has announced a new rule requiring an attestation from the buyer on all import invoices worth Dh10,000 or more. Infringers who are caught without the required document face fines of up to Dh5,000. The new regulation is part of the UAE government's efforts to improve transparency and combat corruption.
What is Import Invoice?
An import invoice is an official document that records the details of a purchase transaction between two parties. It provides proof of goods purchased, the cost, and other pertinent information about a particular transaction. This type of invoice is commonly used in international trade to ensure accurate tracking of goods for customs purposes and for accounting purposes.
The import invoice includes all relevant information regarding the purchase, including item names and descriptions, quantity ordered and received, prices per unit or total price, payment terms, dates of order and delivery, any applicable taxes or shipping charges, special instructions by either party, who was responsible for shipping costs, the currency used in the exchange rate conversion (if applicable), who will be responsible for paying customs duties (if any) , the name(s) of each party involved in the transaction as well as their address(es).
According to a tweet from Mofaic, this new rule will take effect on February 1, 2023, in accordance with Cabinet Resolution No. 38 of 2022 regarding fees for certification of invoices and certificates of origin for imports into the UAE.
"The attestation cost of Dh150 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 Dh500 per invoice penalty imposed by the Mofaic on non-compliant businesses," Sawhney explained.
Exemptions
However, certain categories will be exempt, including invoices with a value of less than Dh10,000, personal imports, goods imported from Gulf Cooperation Council countries, and those brought into free zones.
Furthermore, transit goods imports, B2C e-commerce movements, diplomatic, police and military, charitable societies, and international organizations' goods will be excluded.
Mofaic in the UAE has implemented an electronic online process for completing import invoice attestation by uploading PDF documents. As proof of attestation, a reference number will be generated.
According to Mayank Sawhney, the reference number is integrated with the UAE Customs system to confirm the attestation is completed by the customer prior to import declaration.
