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The Transformation of Listed Companies in KSA
Saudi Arabia is the largest economy in the Middle East and is undergoing rapid transformation as part of its Vision 2030 plan. The plan aims to reduce the country's dependence on oil exports and diversify its economy. One of the key elements of this plan is the transformation of listed companies in Saudi Arabia to become more financially sound and efficient.
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Saudi Arabia Announces Four New Special Economic Zones to Drive Economic Growth
Saudi Arabia, the largest economy in the Middle East, has recently announced plans to establish four additional Special Economic Zones (SEZs) as part of its ambitious Vision 2030 plan to diversify the economy and reduce its dependence on oil revenue. These SEZs are set to become key drivers of economic growth, attracting foreign investment, promoting innovation, and creating employment opportunities in the kingdom.
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Evolution of the Financial Services Industry in KSA
The financial services industry is experiencing a seismic shift. Disruptive companies such as Uber and Airbnb have disrupted traditional businesses such as hotel chains and taxi firms with innovative technologies. In the same vein, financial technology (FinTech) startups are shaking up the financial services industry with innovative technologies that are changing how we bank, make payments, and invest.
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Aviation Insights
Preparing for the return of travel
From liquidity to debt and restructuring, we address the diverse and complex
challenges faced by airlines, leasing companies and aircraft funds in particular.
We also consider implications for employers and how financial planning for the
medium and long term will be affected.
Healthcare Home
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Navigating KSAs Healthcare Industry
The healthcare industry in the Kingdom of Saudi Arabia (KSA) is among the most advanced in the Middle East, but there are strict financial reporting requirements that must be followed to ensure high-quality care for everyone. These requirements include tax, audit, and other advisory considerations, like data protection and cyber security. Let's take a closer look at what healthcare companies in KSA need to know.

As phase one draws to an end, phase two becomes enforceable from 1 January, 2023 in waves.
Contents
The Zakat, Tax and Customs Authority (ZATCA) published its e-invoicing regulations on 4 December 2020, which was also effective from the date of publication. The regulations stipulated that e-invoicing would become mandatory for taxpayers by 4 December 2021.
As phase one draws to an end, phase two becomes enforceable from 1 January, 2023 in waves. Taxpayers must ensure they are prepared as follows:
1. Use a compliant invoicing solution with phase two requirements, which include:
- Ability to generate and store e-invoices in the required format (XML) or (PDF/A3 with embedded XML) with the required fields.
- Ensure the e-invoicing solution is compliant with the e-invoicing requirements including the ability to connect to the internet.
2. Integrate e-invoicing solution with ZATCA's Fatoora portal.
Contact Adel Daglas, Head of Tax to discuss phase two readiness and compliance.
E-Invoicing Phase Two - Arabic
Download the alert in Arabic.