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A game-changer into the world of invoicing to ensure a unified process for validating and auditing invoices is planned to be implemented in Saudi Arabia from 4th December,202. The e-invoice (Fatoora) system with a standardised protocol, powered by information technology, will enable data interoperability between the government’s system and taxpayers.
|e-Invoicing (Fatoora) in Saudi Arabia||How Phase-1 of e-Invoicing System Work|
While e-invoicing is to start from 4th of December,2021, to allow businesses to get used to the new system of e-invoice, it will be implemented in two phases: Generation phase and the integration phase. The first phase begins on 4th December,2021.
Generation Phase of e-invoicing
In the first phase, i.e., the generation phase of e-invoicing, businesses are required to generate and store compliant electronic tax invoices and notes using compliant e-invoicing systems
In the second phase, the e-invoicing software or systems used by businesses will be integrated with ZATCA. The taxpayers will be notified by ZATCA at least 6 months before the date of integration.
The following are the implementation date of e-invoicing in Saudi Arabia
Phase-1 (Generation Phase)
Phase -2 (Integration Phase)
In the generation phase of e-invoicing in Saudi, the businesses need to adhere to the following requirements mandatorily:
The e-invoicing guidelines clarify that a paper invoice converted into an electronic format through copying, scanning, or other methods is not an electronic invoice. This will put an end to the manual way of issuing invoices. It also includes handwritten invoices and invoices written using text editing tools.
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