SunTec Business Solutions announced that it is working with Mashreq to extend their long-standing compliance partnership into electronic invoicing, as the institution prepares for the UAE’s mandatory e-invoicing requirements. The collaboration builds on seven years of joint work on Value Added Tax (VAT) compliance and positions the bank to meet the Federal Tax Authority’s (FTA) e-invoicing deadlines.
The UAE’s e-invoicing mandate, established under Ministerial Decisions No. 243 and No. 244 of 2025, require businesses to issue structured, machine-readable XML invoices transmitted in near real time to the FTA through an Accredited Service Provider (ASP). Large institutions with annual revenues equal to or exceeding AED 50 million must be live by January 1, 2027, with ASP appointment required no later than July 31, 2026. For UAE banks operating across thousands of daily B2B transactions spanning standard-rated fees, exempt interest, and out of scope for VAT, the compliance challenge is among the most technically complex in any sector.
“For seven years, SunTec has been the compliance backbone for leading UAE financial institutions navigating an evolving tax landscape. Our e-invoicing product extends that same architecture — over-the-top, non-disruptive, and built from the ground up for the specific complexities of banking. We are proud to partner with Mashreq as they take this next step in digital tax readiness,” said Nanda Kumar, Founder and CEO, SunTec Business Solutions.
Nassim Tanouti, Global Head of Taxation, Mashreq, said, “E-invoicing represents an important step in the UAE’s broader digital transformation agenda. As a bank that has consistently invested in digital innovation, Mashreq is focused on ensuring early readiness while maintaining operational efficiency. Leveraging proven platforms and partnerships enables us to accelerate this transition while staying aligned with evolving regulatory expectations.”
As the UAE transitions to e-invoicing, banks will need to operate in a hybrid environment where customers at different stages of adoption must be supported – ranging from conventional invoicing processes to real-time exchanges through ASPs. This introduces new operational considerations, as institutions must ensure seamless interoperability across these models. At the same time, e-invoicing creates a network effect, connecting banks, businesses, and service providers in a standardized ecosystem. This positions banks to move beyond compliance, enabling them to embed value-added services such as financing, reconciliation, and cash flow insights directly into invoicing workflows.
SunTec Xelerate e-Invoicing is built to integrate with existing banking and enterprise systems, allowing institutions to participate in real-time invoice validation and transmission without disrupting their core infrastructure. As an approved ASP and a certified Peppol Access Point, SunTec enables compliant connectivity within the UAE’s decentralized continuous transaction control and exchange (DCTCE) model, supporting secure and standardized invoice flows across the ecosystem.
The company’s Dubai-registered entity, SunTec (Xelerate) Business Solutions DMCC, was approved by the UAE’s Ministry of Finance as an official e-invoicing ASP following completion of all technical and regulatory requirements, including Peppol Access Point certification. The company maintains regional headquarters at Jumeirah Lakes Towers, Dubai, with dedicated implementation and support teams serving UAE financial institutions.
Under the UAE’s phased implementation schedule, the pilot program opens on July 1, 2026, for a selected Taxpayer Working Group. Voluntary adoption is available to all businesses from the same date. Mandatory compliance for large taxpayers follows on January 1, 2027, with all remaining VAT-registered businesses required to comply by July 1, 2027. Non-compliance carries penalties of AED 5,000 per month, per-document fines, and daily charges for unreported system failures.
