Categories: BusinessTechnology

QR Code on KSA e-Invoices is now available on FitnessForce Software

e-Invoices are mandatory in Saudi Arabia as of 4 December 2021. The resolution imposes electronic invoicing on resident taxpayers and…

e-Invoices are mandatory in Saudi Arabia as of 4 December 2021. The resolution imposes electronic invoicing on resident taxpayers and third parties acting on behalf of them. All tax invoices (B2B invoices), simplified tax invoices (B2C invoices), and debit/credit notes are under this scope.

The minimum requirements that must be shown after scanning a QR code are the following fields, which should be represented in form of based64 encoding:

  1. Seller’s name.
  2. VAT registration number of the seller.
  3. Time stamp of the invoice (date and time).
  4. Invoice total (with VAT).
  5. VAT total.

How does the e-invoicing system in Saudi Arabia work?

When it is complete, the KSA e-invoice system is expected to be a clearance model similar to India GST e-invoice model: Invoices in machine-readable format – XML invoice or PDF invoice with XML embedded – will be cleared by the Tax Authority before being presented to the final customer. The e-invoicing regulation is divided into two phases:

1. The first phase will comprise mandatory e-invoice generation and archiving as of 4 December 2021. Invoicing software must be able to generate all the invoices and associated notes in electronic format. E-invoices must contain the mandatory fields defined by the tax authority and comply with all the business and validation rules. Tax invoices must contain the buyer’s VAT registration number (if registered). Finally, simplified tax invoices must include a QR code so that individuals can check the validity of an invoice by scanning from a mobile device.

2. The second phase, integration with the ZATCA e-invoice portal and submission of e-invoices will begin on 1 January 2023. According to the resolution, the tax authority will gradually mandate integration for different groups of companies. The companies under obligation will be published no later than 6 months before the deadline.

All the invoices issued shall be transmitted to the e-invoice portal within 24 hours after generation.

How can Fitness Software QR code invoice help you?

  • Fitness Software QR code invoices can automatically create and send electronic invoices to the tax authority and trade partners.
  • Fitness Software QR code invoices can generate invoices in the required format by the tax authority.
  • Integration and document exchange with the Tax Authority through Fitness Software QR code invoices or any connector chosen by the client.

With FitnessForce software the new KSA QR code invoice mandate is now handled end to end.

Reference: https://snitechnology.net/saudi-arabia-electronic-invoicing/

Wilma Lasrado

Head of Operations at FitnessForce, Content Writing, Digital Marketing, love for travelling, exploring the fitness industry

Recent Posts

Building Sales Confidence for Your Fitness Business

Building your sales confidence is one of the most important things you can do to increase and accelerate your fitness… Read More

11 months ago

5 Trendy Ideas to grow your Fitness Business in 2021

Your business needs to advance or expand in order to ensure your financial future. To attract new customers and keep… Read More

11 months ago

How to get former members back to your gym

While gyms are slowly reopening across states, members' attitudes towards exercising in a gym are still constantly changing. Considering during… Read More

11 months ago

How Digitization is Changing the Fitness Industry

The fitness industry is on the verge of a digital transformation, and it’s time you understood why. With advancements in… Read More

12 months ago

A gym that offers childcare services can attract more members

Gym is the catalyst for fitness and happiness, right? At least this is how I’ve always imagined them. Gym provides… Read More

12 months ago

Payment Gateway Integration with your Gym Software to Grow your Fitness Business

If you're looking for payment integration benefits with gym management software, here's something to ponder over. Payment integration is a… Read More

12 months ago