E-Invoicing

• Following the publication by the Kingdom of Saudi Arabia (KSA) Zakat, Tax and Customs Authority ZATCA of the e-invoicing regulations, setting out that it will be mandatory for resident taxpayers to be fully equipped to issue, save and modify e-invoices by 4 December 2021 In today’s digital economy, the timely and secure flow of information is crucial for organizational success. Global Experts can help you comply with the ZATCA e-invoicing mandate to streamline your entire financial operations in compliance with the new e-invoicing regulations The new e-invoicing requirements in KSA will be deployed through two main phases:
  • Phase One – Generation of Electronic Invoices and Electronic Notes is enforceable as of December 4, 2021. It will require a person subject to the E-Invoicing Regulation to generate and store compliant tax invoices and notes using compliant electronic systems. E-invoices should be able to display QR codes, in addition to implementing mandatory, conditional, and optional fields.
  • Phase Two – The Integration Phase on the transmission of Electronic Invoices and Electronic Notes is enforceable starting from January 1, 2023 and implemented in waves by the targeted taxpayer groups. It will require that a person subject to the E-Invoicing Regulation to produce a secure digital fingerprint (Hash) for each e-Invoice, guarantee that the e-Invoicing solutions has a tamper-resistant counter, and Integrate with GAZT through API.