- Implementation of JoFotara System: Jordan is advancing its digital transformation with the JoFotara electronic invoicing system, which mandates that all businesses issue tax-compliant electronic invoices by April 1, 2025, to enhance tax compliance and streamline financial transactions.
- Key Features and Options: The JoFotara system allows for direct invoice issuance through its portal or integration with existing invoicing software via API. It includes features like automated data verification, correction tools, and real-time submission to improve accuracy and reduce fraud.
- Compliance and Future Impact: All Business-to-Government (B2G) transactions must be conducted through the JoFotara portal, emphasizing the need for private sector businesses to ensure compliance with e-invoicing mandates. This initiative represents a crucial step towards improved accountability and tax reporting in Jordan.
Source RTCsuite
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