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e-Invoice (Fatoora) for Kingdom of Saudi Arabia (KSA)
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Dear Friends,
Today we are going to discus how to create e invoice in TallyPrime.
e-Invoice (Fatoora) for KSA
ZATCA has published e-invoicing requirements that will be rolled out in phases in KSA. Phase 1, known as the Generation phase, will require taxpayers to generate and store tax invoices and notes (Debit and Credit Notes) through electronic solutions compliant with Phase 1 requirements. Phase 1 is enforceable as of 4th, December 2021, for all taxpayers (excluding non-resident taxpayers), and any other parties issuing tax invoices on behalf of suppliers subject to VAT.
So if you are a taxpayer fulfilling above mentioned conditions, then from 4th, December 2021 you need to be compliant with the e-invoicing requirement. The use of TallyPrime will make you compliant with all your e-Invoice requirements.
E-Invoicing (Fatoora)
Electronic invoicing is a procedure that aims to convert the issuing of paper invoices and notes into an electronic process that allows the exchange and processing of invoices, credit notes & debit notes in a structured electronic format between buyer and seller through an integrated electronic solution.
What is an electronic invoice?
A tax invoice that is generated in a structured electronic format through electronic means. A paper invoice that is converted into an electronic format through copying, scanning, or any other method is not considered an electronic invoice.
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