- Saudi Arabia has announced additional waves for its tax and electronic invoicing mandates.
- The first phase, called the “Generation Phase,” requires businesses to issue and receive electronic invoices by December 2021.
- The second phase, known as the “Integration Phase,” requires businesses to integrate their e-invoicing system with ZATCA’s platform FATOORA using ZATCA’s API.
- This phase has several waves depending on the company’s taxable turnover. All tax invoices must be part of the clearance model, and businesses must generate electronic invoices in XML or PDF/A-3 format.
Source Unifiedpost
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