E-invoices ( FATOORA )

Saudi Arabia inaugurated the FATOORA (E-invoicing) project on Tuesday 24th of August 2021, which would help to reduce hidden economic transactions and encourage fair competition.

The launching event was attended by a number of officials and experts in this field. The first phase of FATOORA will go live on December 4th this year..

The project is a part of the government's efforts to digitize all of its transactions. This will greatly aid numerous government agencies in their attempts to prevent commercial hiding (tasattur).

The project is one of the most important national projects spearheaded by the Zakat, Tax and Customs Authority in order to achieve the Kingdom's Vision 2030's planned digital transformation

Suhail Abanmi, governor of the Zakat, Tax and Customs Authority, said FATOORA is an important project because it is an extension of various digital projects presented by the authority over the years in order to implement the Kingdom's Vision and goals in achieving the desired digital transformation

The FATOORA project is in line with recent trends in the world's leading economies, and it will have a significant impact on the national economy

.

“In addition to playing an essential role in enriching the consumer experience, the project will contribute to reducing hidden economy transactions and promoting fair competition, as well as contributing significantly to the efforts made by several government agencies to combat commercial concealment,”