Saudi Arabia to employ e-invoicing from December 2021 Thursday 10 December 2020 13:20 CET | News Saudi Arabia has announced it will be introducing a new e-invoicing system that is expected to be a CTC regime.
The details are yet to be published, however, the initial E-invoicing Regulation has recently been enacted and was published on 4 December 2020. The new framework is set to go live on 4 December 2021, and will apply to all resident taxable persons, as well as any third party who issues a tax invoice on behalf of a taxable person residing in the Kingdom.
According to the Regulation, an e-invoice is an invoice that is issued, saved, and amended in electronic form. Credit and debit notes resulting from adjustments to e-invoices must also be issued electronically. A paper invoice that is converted into an electronic format through copying, scanning, or any other method is not considered as an electronic invoice, nor is unstructured invoice data.