E-invoicing became mandatory in Saudi Arabia on December 4, 2021. Phase 1 of the e-invoicing mandate is now live, and Phase 2 will come into place on January 1, 2023. The top 8 frequently asked questions regarding the new law have been gathered from clients. All taxpayers are affected by the mandate, including B2G, B2B, and B2C transactions. Exemptions to the mandate include exempt supplies, advanced payments related to exempt supplies, reverse charge supplies, and import of goods. Penalties of SAR 1,000-40,000 will be applied for non-compliance.
Source Pagero
