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On December 4th, 2020, The Zakat, Tax and Customs Authority, formally known as the General Authority of Zakat and Tax (GAZT) issued its new e-invoicing (FATOORAH) regulations. All businesses and individuals subject to VAT are required to develop systems that generate and store e-invoices before December 4th 2021. Saudi Arabia plans to adopt international practices and increase compliance with tax obligations through the new e-invoicing mandate. The kingdom also hopes to reduce the shadow economy and commercial concealment through this new rule.
All those subject to VAT will have to issue and store e-invoices in a structured format compliant with the new regulation. Third-parties who are issuing tax invoices on behalf of residents are also required to comply with the new e-invoicing regulation.
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Big Data Services
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Nanotechnology immersion along the information highway will close the loop on focusing solely
Business Intelligent
Nanotechnology immersion along the information highway will close the loop on focusing solely
Data Management
Dynamically innovate resource-leveling customer service for state of the art customer service.

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