Zatca
Saudi Arabia has implemented electronic invoicing regulations, including ZATCA, to promote a digitized economy and e-invoicing. The first phase began on December 4, 2021, followed by the second phase on January 1, 2023. E-invoicing is environmentally conscious, efficient, and secure, reducing administrative restraint, promoting adherence to regulations, and enhancing transparency. This approach also allows the government to closely monitor corporate operations and activities.
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What Are The Benefits Of Using ZATCA?
E-invoicing is now mandatory in Saudi Arabia. Whether B2B, B2G, or B2C, all businesses must comply with the new regulations set by ZATCA. The e-invoicing process is not that different from other countries, but companies will have to share data with ZATCA and report their invoices to them. Storecove is a cloud-based e-invoicing solution that helps businesses comply with the new ZATCA regulations.
QR Code For Invoices
A type of matrix barcode, with a pattern of black and white squares that is machine readable by a QR code scanner or smart device camera in order to enable basic validation of Electronic Invoices and Electronic Notes. For technical details, please refer to the Security Features Implementation Standard.
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