E-invoicing was introduced last year in the Kingdom of Saudi Arabia (KSA). Phase one of the implementation, the generation phase, has already gone live on December 4, 2021. Phase two of the implementation, the integration phase, will go live on January 1, 2023. This phase will require taxpayers to integrate their invoicing systems with the Zakat, Tax and Customs Authority (ZATCA) Fatoora Portal in a number of structured waves.
To deal with phase two and to ensure compliance with the regulations, businesses will require detailed systems and processes in addition to considering other changes.
Given the importance of this update, Deloitte held a webinar on Monday, 5 September 2022 where our tax specialists discussed phase two of the e-invoicing implementation and the steps businesses can take now to ensure compliance with the regulations.
Michael is the Indirect Tax Leader of Bahrain and the Kingdom of Saudi Arabia (KSA) based in Riyadh. He has over 25 years of experience in Value Added Tax (VAT). He has worked across a number of jurisdictions including the USA, Switzerland and the UK to help clients deal with and manage their indirect taxes. He is using his experience in the GCC to advise on practicalities for VAT implementation and post-implementation processes, as well as addressing technical issues. Michael has significant experience working across a number of sectors, most notably Telecommunications, Travel, Manufacturing and Fintech. He also advises clients around supply chain reorganizations and VAT optimization planning in addition to providing advice in respect of mergers and acquisitions. Michael works closely with the Deloitte Tax Technology team in helping clients with their systems, process and compliance challenges.