Banqup Group, a Belgian e-invoicing company listed on Euronext Brussels, has built the system the UAE Federal Tax Authority (FTA) will use to receive tax data from business invoices under the country’s e-invoicing mandate. Large UAE companies have until 30 October to appoint a provider to connect them to it.
The company that it will develop, implement and operate the FTA’s Peppol Corner 5 access point. Banqup is the technology provider in a consortium led by Clever Science Computer System Trading, a UAE company. The contract value was not disclosed.
The work started on 27 October 2025 as a seven-month project, and Banqup said design and implementation finished in May 2026. It now runs managed services and technical support for the FTA.
How the five-corner model works
The UAE has chosen a decentralised model built on Peppol, the international e-invoicing network, rather than a single government portal that every invoice passes through. The sets out five parties to each transaction.
The supplier is Corner 1. It sends a structured invoice to its accredited service provider (Corner 2), which passes it to the buyer’s provider (Corner 3), which delivers it to the buyer (Corner 4). As the invoice moves between the two providers, they report its tax data to the FTA, which is Corner 5.
Banqup built that fifth corner. It does not act as a service provider for businesses in the UAE, and it does not appear on the ministry’s list of accredited providers. Banqup said the UAE is the first country to run this kind of decentralised continuous transaction control with Peppol.
Koen De Brabander, Banqup’s chief executive, said:
“This flagship project with the UAE Federal Tax Authority further cements our position as a global leader in government-grade e-invoicing solutions.”
Deadlines for businesses
Mandatory e-invoicing starts on 1 January 2027 for businesses with annual revenue of AED 50 million or more. Businesses below that threshold follow on 1 July 2027, and government entities on 1 October 2027.
The first group originally had to appoint a service provider by 31 July 2026. The ministry moved that to 30 October through , citing the availability of technical options and competitive pricing among providers. At the time, 32 providers were accredited.
That number has almost doubled. The ministry’s , updated on 28 September, shows 60 accredited providers and three more in final assessment. Companies that miss the appointment or go-live deadlines face a fine of AED 5,000 for each month they are late, under Cabinet Decision No. 106 of 2025.
The 1 January start date has not moved, and the tax authority’s end of the system has been built since May. With a month left to appoint a provider, the remaining work for large companies is in their own ERP systems and in their choice of provider.
