Saudi Arabia mandates B2B e-invoicing

  • Industry News
  • Posted by: admin
  • Sep 12, 2016
  • Reading Time: 2 minutes

By 2017, private sector firms of Saudi Arabia mandates to adopt electronic billing in all accounting departments. The mandate is usually enforced by the Department of Zakat and Income Taxes (DZIT) and comes ahead of the introduction of new taxes across the kingdom over the next two years.

e-invoicing in Saudi Arabia

Saudi Government adopts a new taxation initiative as the part to diversify its revenue streams making the reduction in oil prices.

Saudi Organization for Certified Public Accountants (SOCPA) announced transition to e-billing that paves the way for imposing the sales tax in the kingdom. The start of 2018 in Saudi Arabia plans to impose a 5 percent value added tax as a part of Unified Gulf Cooperation Council Agreement.

Simplify the invoicing process using an appropriate solution like Invoicera with benefits like:

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  • – Account receivable and account payable management
  • – Custom workflow management
  • – Receive payments online
  • – Financial reporting and analysis
  • – Recurring billing
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