Builds on seven years of VAT compliance partnership
SunTec Business Solutions recently 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).
Digital tax readiness
“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,” stated Nanda Kumar, Founder and CEO, SunTec Business Solutions.
“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,” commented Nassim Tanouti, Global Head of Taxation, Mashreq.
Hybrid environment
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.
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, a press statement concluded.
