It has been announced that Saudi Arabia imposes B2B and B2C electronic invoicing for resident taxpayers. The first phase which comprises mandatory e-invoice generation and archiving will start on 4 December 2021. All the tax invoices exchanged between businesses, simplified tax invoices issued to individuals and credit/debit notes must be generated in electronic format. E-invoices must contain the mandatory fields defined by the tax authority and comply with all the business and validation rules. A technical solution that is capable of exporting e-invoices for archiving and prevent tampering of invoices will be necessary. Connection with the tax authority’s portal and reporting of e-invoices will be mandatory gradually as of 1 January 2023 for different group of companies.
Source: SNI
