The enforcement of Saudi Arabia’s e-Invoicing program, locally known as Fatoora, is on 4th December 2021, at phase 1. The generation and storing of electronic invoices and electronic notes will be mandatory to local taxpayers as well as to companies issuing tax invoices on behalf of suppliers for VAT purposes.
The new regulation is an integral part of the VAT Implementing Regulation issued by the Board of Directors of the local tax authorities by Resolution No. 3839 dated 14/12/1438 H “The Implementing Regulation.”
Quick Recap: What do we know so far?
Prepare your business for e-Invoicing
ZATCA has recommended these four steps your business can do to ensure timely readiness:
Familiarize yourself with e-invoicing leveraging the materials available.
Taxpayers can approach a solution provider or their internal technical teams to acquire or upgrade to a compliant solution.
Test your e-Invoicing solution before 4 December 2021 to ensure invoices are issued correctly.
Create awareness amongst your staff and ensure relevant staff is familiar with your e-invoicing solutions