Introduction
As part of its ongoing efforts to enhance digital transparency and improve financial compliance, the Zakat, Tax, and Customs Authority (ZATCA) has announced Wave 20 of the E-Integration Phase.
Who Does Wave 20 Include?
Wave 20 includes establishments with annual taxable revenues exceeding 1.5 million SAR during 2022 or 2023. These establishments must prepare their electronic systems to comply with ZATCA requirements by October 31, 2025.
Key Requirements for Integration Phase
The second phase of E-invoicing requires businesses to meet several criteria to ensure readiness, including:
- Direct integration with the “FATOORA” platform by ZATCA.
- Issuing electronic invoices in a format compliant with defined standards.
- Including mandatory fields such as a QR code.
- Providing secure electronic storage solutions for invoices.
Notifications and Updates
All previously included organizations will be notified of the implementation requirements to ensure their readiness. Other organizations not included in the wave will be informed at least six months before the final deadline.
InvoiceQ Compliance Support
As an authorized provider by ZATCA for Phase Two, InvoiceQ offers comprehensive solutions to help businesses align their systems with the requirements of the second phase. The InvoiceQ system features:
- Generating electronic invoices directly compliant with the “FATOORA” platform.
- Integrating existing business systems with ZATCA’s platform without needing to replace internal systems.
- Ongoing technical support to ensure a smooth and seamless integration process.
InvoiceQ Success Stories
InvoiceQ has provided advanced solutions to some of the largest companies in Saudi Arabia across various sectors, including government, transportation, services, retail, and manufacturing. Through these solutions, InvoiceQ achieved remarkable results in 2024:
- +6 billion USD: Annual value of issued invoices.
- +20 million: Electronic invoices issued annually.
- +10 million USD: Costs saved for clients.
Key Features of InvoiceQ System
- ZATCA-Compliant Invoices: Create, validate, and store invoices in compliance with Phase I and II regulations.
- Invoice Customization: Design invoices with logos, payment details, and client-specific information.
- Bulk Invoice Upload: Upload large numbers of invoices in one go.
- Real-Time Payment Tracking: Monitor payment statuses effortlessly.
- Seamless Integration: Support for payment gateways like “SADAD” and “Telr”.
- Automated Notifications: Send important updates to clients automatically.
- Detailed Reports and Analytics: Access insights into financial data and invoices.
- Integration Options for Multiple Systems: InvoiceQ seamlessly works with systems like Microsoft Dynamics, QuickBooks, Xero, JD Edwards, and more to ensure smooth integration without obstacles.
Why Choose InvoiceQ?
- A Comprehensive and Flexible E-Invoicing System.
- Innovative Solutions that ensure transparency and accuracy in issuing invoices.
- A Dedicated Team to assist with compliance smoothly.
Start your journey to full compliance with E-Invoicing requirements today with InvoiceQ! Book your free system demo or consultation for more details.
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