The Zakat, Tax and Customs Authority announced new procedures to link electronic billing systems for those whose annual revenues subject to value-added tax exceed 250 million riyals during the past two years.
The Zakat, Tax and Customs Authority stated that based on the powers vested in the system, and after reviewing the electronic billing regulations issued by the Authority’s Board of Directors’ decision, and based on paragraph (a) of Article Six of the regulations and after reviewing the administrative decision and its amendments, which includes approval of controls, requirements and specifications. The technical and procedural rules necessary to implement the provisions of the electronic billing regulation, the Zakat, Tax and Customs Authority decided that all persons subject to the electronic billing regulation, whose annual revenues subject to value-added tax for the years 2021 and 2022 exceed two hundred and fifty million riyals, must commit to linking their electronic billing systems and sending electronic invoices and notifications electronic billing systems and share their data with the Authority – as a third stage to link the electronic billing systems with the Authority's systems – from October 1 until a maximum date of February 1, 2024. And she emphasized that the decision should be communicated to whoever is needed to implement it, and that it will be enforced from the date of its publication in the official newspaper.
The electronic invoicing system is described as a procedure aimed at transforming the process of issuing paper invoices and notices into an electronic process that allows the exchange of invoices and debit and credit notes and processing them in an organized electronic format between the seller and the buyer in an integrated electronic format.
Adnan Shabrawi (Jeddah) @Adnanshabrawi