E-invoicing can increase efficiency in transactions by making trade more seamless, efficient, and result reduced costs. Providing government with greater insights on market conditions.
Increased tax compliance rates, provide increased transparency on commercial transactions and allow data-informed decision making for Government.
The following key points should be considered by businesses
operating in KSA:
- E-invoices must be issued from 4 December 2021 (first phase).
- At a later date, the second phase will come into effect, whereby taxpayers’ systems of issuing electronic invoices and debit and credit notes must be linked with ZATCA’s systems to share data and information.
- The e-invoicing provisions apply to all taxable supplies subject to the standard or zero rate of VAT and to both resident and non-resident consumers (i.e. for sales outside KSA).
Outlines various modules of the solution and their purpose