e-Invoicing Management System
Electronic invoicing will be rolled-out in two phases in KSA (more details about the phases here [link to the following page]). For the first phase, enforceable as of December 4th, 2021, for all taxpayers (excluding non-resident taxpayers), and any other parties issuing tax invoices on behalf of suppliers subject to VAT, electronic invoice issuance will be very similar to today, with invoices issued through a compliant electronic solution and including additional fields depending on the type of the transaction.
PHASE 1 (as of December 4th, 2021)
Phase 1, known as the Generation phase, will require taxpayers to generate and store tax invoices and notes through electronic solutions compliant with Phase 1 requirements.
Phase 1 is enforceable as of December 4th, 2021, for all taxpayers (excluding non-resident taxpayers), and any other parties issuing tax invoices on behalf of suppliers subject to VAT..
PHASE 2 (starting from January 1st, 2023)
Phase 2, known as the Integration phase and rolled-out in waves by targeted taxpayer group, will involve the introduction of Phase 2 technical and business requirements for electronic invoices and electronic solutions, and the integration of these electronic solutions with ZATCA’s systems.
ZATCA will notify taxpayers of their Phase 2 wave at least six months in advance, and the enforcement date for the first target group will not be earlier than January 1st, 2023..
How it Works : Under an MSP programme, all requests, vendors, workers, timesheets and expenses are recorded, managed and tracked through a process and technology that offers an enterprise level view of all activity.
Once all workers and resources are recorded, the processes can be standardized, best practices introduced and policies enforced:
Key Features
- Store multiple clients with banking information and branches.
- Create Tax Invoices in format specified by client and print or save the invoice in PDF or TIFF format.
- Generate Credit Notes and Partial Credit Notes associated with a tax invoice.
- Mark Invoices approved from Client to be processed for payments.
Why SNS : We have been providing MSP programmes since 2001 and now manage in excess of 1,500 resources every month for organizations across MENA region.
From localized services to multi country and regional agreements our experience combined with the infrastructure, market knowledge and expertise of the region’s one of the largest specialist Consultancy means we are uniquely positioned to support you whatever the scope and location is.
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