The Zakat, Tax and Customs Authority has launched the 'Fatoora' project. The launch took place during a ceremony held today, Tuesday, August 24, at the Four Seasons Hotel in Riyadh in the presence of His Excellency Eng. Suhail bin Mohammed Abanmi, Governor of the Zakat, Tax and Customs Authority, His Excellency Eng. Ahmed bin Mohammad Al-Suwayan, Governor of the Digital Government Authority, Engineer Saleh bin Ibrahim Al-Rasheed, Governor of the General Authority for Small and Medium Enterprises (Monsha'at), His Excellency Mr. Ahmad Al Suwailim, CEO of The National Anti-Commercial Concealment Program, with the presence of E-invoicing solution providers.
Also His Excellency Mr.Ajlan AlAjlan, chairman of the board of directors of the Riyadh Chamber of Commerce and chairman of the Council of Saudi Chambers. And His Excellency Eng.Yousef AlHargan, The Ceo of the National Center for Government Resource Systems.
During his speech at the ceremony, the Governor of the Zakat, Tax and Customs Authority stressed that the 'Fatoora' electronic invoicing project is one of the most important and ambitious national projects led by the Authority, which comes as an extension of various digital projects it has initiated during recent years as part of efforts to achieve the ambitious digital transformation goals outlined in the Kingdom's Vision 2030.
Eng. Abanmi stated that the 'Fatoora' project is aligned with the latest developments in the world's leading economies and will have a tangible impact on the national economy. "The project will contribute to reducing the hidden economy's transactions and promoting fair competition, contributing significantly to the efforts made by several government agencies to combat commercial concealment, in addition to its essential role in enriching the consumer experience," he said.
His Excellency extended his thanks to all parties cooperating in implementing the requirements of e-invoicing, including service and e-invoicing systems providers while appreciating at the same time the enthusiasm and willingness of the facility owners and those in charge of the 'Fatoora' application, who provided opinions and feedback that helped the Authority achieve integrated e-invoicing.
The first phase of the initiative will apply to taxpayers subject to the e-invoicing regulation from December 4, 2021, which will involve issuing and electronically storing tax invoices and relevant debit and credit notes. The second phase will be implemented from January 1, 2023, and is set to establish the integration between the electronic systems of taxpayers and those of the Zakat, Tax and Customs Authority.
During the ceremony, several agreements were signed, and the list of e-invoicing technical solutions providers was announced. Participating providers expressed their willingness to deliver effective e-invoicing solutions. The event came as a prelude to the launch of the project's first phase (issuing and storing phase) on December 4 this year.
The Authority confirmed that the list of e-invoicing technical solutions providers shared during the ceremony is a non-binding indicative list to help taxpayers choose the appropriate technical solution based on the size of their facilities and the type of sectors involved. The provision of e-invoicing solutions is limited to the list, however, the taxpayer is considered statutory when he meets the e-invoicing requirements.
The Authority has also launched a campaign that will continue until the end of this year to raise awareness of e-invoicing. In addition to sharing details on the application process and requirements, this also highlights the benefits of e-invoicing in line with the Authority's desire to promote the service among taxpayers.
