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“Zakat and Income” announces the entry into force of the electronic billing regulation
Riyadh- December 4, 2020:
The General Authority for Zakat and Income announced the approval of its Board of Directors on the electronic billing regulation, which was published on December 4, 2020. An electronic invoice is a tax invoice that is issued electronically through an electronic means, and is issued by every taxpayer subject to value added tax in the Kingdom.
The electronic billing regulation contains seven articles that regulate the mechanism for issuing and keeping electronic invoices for the taxpayers and clarifies the provisions, procedures and persons subject to them, in addition to the procedural rules and time limits. Whereas, the Authority confirmed that the regulation has entered into force from the date of publication. Note that the mandatory application will take place on the taxpayers subject to it to issue and keep invoices on the fourth of December 2021.
The General Authority for Zakat and Income invites all taxpayers to view the electronic billing list through its website and to contact it via the unified number (19993), which works 24 hours a day, seven days a week, for any inquiries related to electronic billing .
It is worth noting that the electronic invoicing system aims to limit the volume of shadow economy transactions, in addition to combating commercial concealment.
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