Saudi: Second phase of e-invoicing to begin from Jan 1

Zakat, Tax, and Customs Authority (ZATCA) has defined the criteria for selecting the targeted establishments in the second group to implement the integration phase of e-invoicing. ZATCA said that the second group included all the establishments whose revenues are subject to value-added tax (VAT) and exceeded half a billion riyals in 2021. It has clarified that it will notify all the targeted establishments in the second group, in preparation for linkage and integration of the systems of the e-invoicing of these establishments with the Fatoora platform as of July 1, 2023. ZATCA added that the second phase (integration phase) requires additional requirements from the first phase (Generation of Electronic Invoices phase), most notably are integration of the systems of e-invoicing of taxpayers with the Fatoora platform, as well as issuing e-invoices based on a specific format, and also to include additional fields in the invoice. The obligation of the second phase will be done gradually and in waves. ZATCA will inform the series of waves directly, at least six months before their integration date. The implementation for the integration phase for the first group will take place on Jan. 1, 2023, for all establishments whose selection criteria were announced last June, after they completed the necessary requirements to complete this phase. The second phase of e-invoicing comes as an extension to the economic renaissance and digital transformation that Saudi Arabia is witnessing, and also as a continuation of the success story that started with the first phase of implementation of e-invoicing, which achieved various positive results. The e-invoicing has raised the level of consumer protection in Saudi Arabia, ZATCA confirmed, while praising the huge awareness of the taxpayers and their quick response in and their quick response in implementing the first phase of the project. It is noteworthy that the implementation of the first phase (Generation Phase) of the e-invoicing project began on Dec. 4, 2021. The project requires taxpayers who are subject to the e-invoicing regulations to completely stop using handwritten invoices or the computer-generated invoices through text editing software or number analysis software. Taxpayers must make sure of the availability of a technical solution for e-invoicing that is compatible with ZATCA's requirements, also to ensure that the e-invoicing is issued and saved with all the required fields, including the QR code and other requirements. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.inf

Saudi: Second phase of e-invoicing to begin from Jan 1

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