What is the 2nd stage of e-invoicing?
The integration stage, known as stage 2 of e-invoicing, may be a framework in which the commerce program, such as bookkeeping computer program, EPR etc., utilized by the trade, will be coordinates with the ZATCA’s framework (Fatoora Portal).
In this framework, once the provider produces the receipt, the points of interest will be electronically transferred to the Fatoora entrance, which can approve and confirm the receipt. After fruitful confirmation, each receipt is carefully marked and included with a QR code.
What is integration?
Joining the taxpayer’s e-invoicing arrangement such as bookkeeping program with ZATCA’s framework (Fatoora portal) for the reason of approving, clearing and stamping the receipt subtle elements.
When will the integration stage of e-invoicing should begin?
The Saudi Zakat, Assess and Traditions Specialist (ZATCA) announced that the integration stage of e-invoicing should begin from January 1, 2023. The primary wave is pertinent to businesses with income surpassing 3 billion from 1st January,2023. The moment stage will apply to businesses with income surpassing 500 million in FY 2021 from 1st July,2023.
Who ought to e-invoice within the to begin with wave of integration stage of e-invoicing in Saudi?
Within the to begin with wave, all KSA inhabitant businesses with yearly assessable income surpassing 3 billion ought to comply with the moment stage of e-invoicing VAT Registration necessities beginning from 1 January 2023. The yearly assessable will be 2021 calendar year, and the final date for these businesses to comply with integration stage prerequisites is by 30th June,2023
How to comply with 2nd stage of e-invoicing prerequisites?
Guarantee the e-invoicing arrangement can interface to the web
Coordinated the e-invoicing arrangement and gadgets with Fatoora Entrance
The arrangement is compliant; it can send the receipt points of interest in XML organize to the entry in real-time. Get the stamped points of interest from the entry and print points of interest such as QR code on the receipt.
Complies with rules to stamp the streamlined solicitations and report them to the entrance inside the prescribed timelines.
Why connecting e-invoicing arrangements to the web is mandatory within the Integration Stage of e-invoicing?
Within the coordinates stage of e-invoicing, the providers trade computer program ought to be associated with the ZATCA’ framework (Fatoora Portal). This orders a working web association.
What are the satisfactory groups of e-invoices?
Concurring to e-invoicing controls in Saudi Arabia, your e-invoicing arrangement within the integration phase of e-invoicing must produce, share, and store e-invoices in particular groups of XML or PDF/A-3 with implanted XML. Be that as it may, to share the receipt points of interest to entry for clearance, it ought to be in XML arrange.
What components are within the QR code of e-invoices?
Seller’s title
VAT Registration enlistment number of the dealer
Date and time of invoice/note
VAT sum
Add up to sum (with VAT) of invoice/note
What is Cryptographic Stamp?
The Cryptographic Stamp is naturally produced by the arrangements (for streamlined solicitations), or by the ZATCA framework (for assess invoices) and isn’t visible on the printed receipt separated from an implanted form within the QR code.
What is UUID?
It stands for All around Interesting Identifier, used to recognize an receipt through a globally unique number. Once it is issued and can be followed all through its lifecycle. A UUID is an naturally produced number that’s produced inside the taxpayer’s arrangement that’s not unmistakable on the printed receipt. Compliant e-invoice arrangement merchants must guarantee that their solutions are able to create UUIDs which they are present inside the electronic invoice XML.
What are the most differences between charge solicitations and disentangled solicitations within the 2nd stage of e-invoicing?
Electronic Receipt
(B2B:
trade to trade receipt)
Simplified Electronic Solicitations
(B2C:
commerce to buyer receipt)
QR code
Produced by the taxpayer’s arrangements and the e-Invoicing entrance will upgrade the code amid the clearance handle.
QR code commanded is produced by the computer program utilized by the businesses
Cryptographic stamp
Cryptographic stamps are connected by the Specialist E-Invoicing Integration Entry.
The program does cryptographic stamp
Receipt Sharing with Entrance
Sharing of solicitations with the e-invoicing Integration entrance in real-time
Sharing solicitations inside 24 hours from generating.
Clearance VS reporting
The provider ought to send the receipt subtle elements to entry for clearance reason some time recently issuing the receipt to the buyer.
There is no clearance. It’s fair theVAT services reporting of rearranged receipt points of interest after issuing the receipt to the buyer
How to create and share simplified receipt in 2nd phase of e-invoicing?
The vender produces the e-invoice which incorporates all the required areas
The dealer offers the e-invoice with the customer
The vender stores the e-invoice on a compatible e-invoicing arrangement
The vender reports the e-invoice to ZATCA within a greatest term of 24 hours through an coordinates e-invoicing arrangement with Fatoora Entry
How to create and share assess solicitations in 2nd stage of e-invoicing?
The dealer produces the e-invoice, which incorporates all the obligatory areas
The dealer offers the e-invoice with ZATCA through their coordinates e-invoicing arrangement, and after that it gets cleared from ZATCA and sent back to the citizen after the clearance
The dealer offers the cleared e-invoice with a QR code with the buyer
The seller stores the e-invoice electronically
You can also Register for VAT Registration on our website:
https://thevatconsultant.com/
