Arab News, Saturday, Dec 04, 2021 | Rabi Al-Aakhir 29, 1443
Saudi Arabia to start mandatory e-invoicing first phase on Dec. 4
Saudi Arabia:
Saudi Arabia will start implementing the mandatory application of the first
phase of e-invoicing “fatoorah” on Saturday Dec. 4, Argaam reported.
An e-invoice, according to regulations, is a tax
invoice that is issued electronically by each taxpayer subject to value-added
tax in the Kingdom
The first phase requirements consist of ensuring
that there is a technical e-invoicing solution compatible with the relevant
requirements. This means no handwritten invoices or invoices written through
text editors or number analysis applications on computers.
A fine of SR5,000 ($1,332) will be applied for not
issuing and saving the invoices electronically.
The fine for not including the QR Code in the
e-invoice and not reporting any malfunction in the issuing of the e-invoice to
the authority starts with a warning. The fine for violating the deletion or
modification of e-invoice starts from SR10,000.
The second phase of e-invoicing will be
implemented in a phased manner, starting from January 1, 2023, to establish
integration between e-systems of taxpayers and the authority’s regulations,
Argaam said.