Electronic invoicing (e-Invoicing) is becoming increasingly important for businesses in Saudi Arabia. The Saudi Arabian government, through the Zakat, Tax and Customs Authority (ZATCA), has introduced a system called “FATOORAH” to streamline the invoicing process and ensure better compliance with VAT regulations. Upcoming deadlines for businesses to integrate their e-Invoicing systems with the FATOORAH platform depend on the VATable income, ranging from October 1st, 2024 for businesses with a VATable income exceeding 25 million Saudi Riyals to February 1st, 2025 for businesses with a VATable income exceeding 5 million Saudi Riyals. Businesses must ensure their electronic invoicing solution complies with the new regulations.
Source Fintedu
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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