Saudi Arabia has released a draft document for mandatory electronic invoicing. E-invoicing will become mandatory on 4 December 2021.
As of that date, companies must be able to generate, archive and submit electronic invoices upon request from the KSA General Authority of Zakat & Tax. As of 1 June 2022, all the invoices must be reported digitally to the tax authority. It is an electronic invoice clearance model similar to Turkey and Italy. The legislation will be finalized after the consultation period in April.
Some details:
- 4 December 2021: Invoice solution must generate e-invoices, debit and credit notes in any data format with mandatory fields. Also, the solution must be able to keep record of these documents externally. Taxpayers must submit archieved electronic documents when tax authority requests. For simplified e-invoices, QR code will be mandatory.
- 1 June 2022: API integration and transmission of e-invoices and e-notes to the tax authority portal are mandatory. The official reporting format is XML. Hybrid model, PDF document embedded with XML will be optional for sending to the customers. Cryptographic stamp will be mandatory for simplified tax invoices. QR code and UUID on all e-documents are mandatory.
Source: GAZT
