The Kingdom of Saudi Arabia (KSA) started e-invoicing as one of the initiatives to move the economy towards digitalisation. The Zakat, Tax and Customs Authority (ZATCA) in the KSA intends to implement phase-1 of e-invoicing from 4th December 2021. This article explains actions to be taken by the taxpayers and e-invoicing readiness steps.
e-Invoicing readiness steps
The first phase of the e-invoicing system applies to all the resident taxpayers. It also covers the customers or third-party persons who issue a tax invoice on behalf of the resident taxable person. However, ZATCA excluded non-residents for VAT purposes from e-invoicing.
The following are the actions to be taken by taxpayers from 4th December 2021:
The taxpayers are suggested to follow the below four steps to ensure timely readiness for e-invoicing:
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