Riyadh: In the presence of an array of government agency leaders and representatives of the partners of this national project, H.E. Governor of Zakat, Tax and Customs Authority (ZATCA), Eng. Suhail bin Mohammed Abanmi today released the Fatoora Documentary, which presents successes of E-Invoicing system and sheds light on its role in supporting the national economy.
“The documentary film sheds light on the endeavors made to implement E-Invoicing project after success in implementing phase of integration with the taxpayers’ systems without obstacles, making the Kingdom one of the world’s fastest countries in implementing such a project. This was made possible thanks to the Kingdom’s advanced digital infrastructure and readiness of the Saudi private sector to absorb technology developments,” said the Governor.
The Governor added, “This success comes after completion of Phase 1 with outstanding results, and launch of Phase 2 “Integration Phase”, in which establishments’ e-invoicing systems will be integrated with ZATCA’s “Fatoora” system. There are over 14,000 e-invoicing systems integrated with “Fatoora” platform, as well as over 400,000,000 invoices have been shared via the platform since Jan. 1, 2023.”
The substantial support provided by the wise leaders to ZATCA greatly contributed to realizing positive results in this national project, pointed out His Excellency, emphasizing that e-invoicing goals support goals of Saudi Vision 2030 by achieving digital transformation, consolidating efforts of all parties to combat commercial concealment and practices of shadow economy, and streamlining procedures for taxpayers and helping them to comply with laws and regulations.
The documentary film illuminates e-invoicing positive impact on supporting the Kingdom’s economic development, promoting fair competition, protecting consumer rights, combating commercial concealment, eliminating shadow economy, and enhancing tax compliance.
The documentary focuses on implementation of e-invoicing as one of the National Anti-Commercial Concealment Program’s initiatives and a great success realized by ZATCA in digital transformation and promotion of electronic transactions to increase efficiency of businesses, improve CX and streamline procedures through digitization and automation.
Furthermore, the documentary sheds light on e-invoicing outstanding success and great progress achieved through implementation of Phase 2 “Integration”, as ZATCA recently established the criteria for selecting the Wave 8 target establishments to pursue its steps to complete the success story that began with E-Invoicing Phase 1.
Kingdom’s E-Invoicing project is one of the world’s fastest experiences in applying the system to all establishments liable to VAT, as over 300,000 establishments succeeded in applying e-invoicing in Phase 1.
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