VAT (Value-Added Tax) is a consumption tax applied that businesses can usually reclaim the input VAT they paid against the output. It is an essential aspect of ensuring compliance. Zakat, Tax and Customs Authority (ZATCA) manages vat. VAT compliance ensures…
Effective business processes and adherence to tax regulations in Saudi Arabia are top concerns for today’s businesses. SowaanERP, an industry-leading company that is based in Saudi Arabia, offers an ERP solution, streamlining these processes by seamlessly integrating to zatca fatoora…
ZATCA announces 17th Wave under Phase 2 of Saudi Arabia’s e-invoicing initiative. VAT registered firms with a revenue greater than the amount of SAR 2.5 million between 2022 and 2023 to integrate their e-invoicing system in with Fatoora until July…
ZATCA announces the 16th wave under Phase 2 of Saudi Arabia’s e-invoicing system. VAT registered businesses that have an annual turnover exceeding SAR 3 million by 2022 or 2023 fall under wave 16. Businesses must incorporate their e-invoicing systems to…
The Zakat, Tax, and Customs Authority (ZATCA) has released the wave 15 under phase 2 of Saudi Arabia’s e-invoicing program. Entities registered for VAT with an annual turnover that exceeds SAR 4 million in the year 2022 or 2023 must…
ZATCA has revealed the 14th wave of phase 2 of Saudi Arabia’s initiative to e-invoice. VAT registered businesses with an annual turnover of more than SAR 5 million by 2022 or 2023 fall under Wave 14. Businesses must incorporate their…
Zakat, Tax, and Customs Authority (ZATCA) announced the 13th Wave for companies moving towards electronic invoices. VAT-registered companies with a turnover of more than SAR 7 million between 2022 and 2023 need to connect their e-invoicing systems to the Fatoora…
ZATCA announced Wave 12 under Phase to modernize and improve the country’s tax infrastructure. This wave expands the range of integration available to companies and highlights ZATCA’s dedication to the transformation of the economy through technological advances. This is a…
What is SowaanERP? SowaanERP is a modern ERP software that allows businesses to manage various aspects of business operations effectively. Originally created for Saudi Arabian businesses, SowaanERP serves to optimize the work process and maintain the appropriate tax regulation compliance,…
The 11th wave of phase 2 mandates VAT-registered companies with an annual revenue in excess of SAR 15 million from their fiscal years 2022 – 2023 to integrate their electronic invoicing systems with Fatoora by 1 November 2024. Key Requirements…
