Engitech Data Sciences &
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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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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
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Dynamically innovate resource-leveling customer service for state of the art customer service.
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