e-Invoicing Solutions
E-invoicing (electronic invoicing) by Zakat, Tax, and Customs Authority (ZATCA) was introduced in Saudi Arabia to enhance tax compliance, prevent fraudulent activities, and streamline VAT reporting.
E-invoicing replaces traditional paper and PDF-based invoices with a cost-effective digital format. A digital approach is used to generate, send, receive, and store business invoices. ZATCA has mandated e-invoices through the Fatoorah platform to phase out hand-written invoices to ensure seamless financial integration. E-invoices are real-time transaction validations that automatically comply with tax regulations.
Phase 1 of E-invoicing in KSA was introduced in 2021, December 4th. Since then, ZATCA has updated its invoicing policies and tax regulations with different Waves. Businesses should be vigilant and updated about the tax regulations and e-invoicing policies to avoid penalties. Reve Consult assists businesses in the prompt submission of e-invoices to enhance transaction visibility and simplify tax audits.
