Tax Invoice- Saudi VAT

    4 years ago

Tax Invoice- Saudi VAT

The Zakat and Income Tax Authority clarified the VAT invoice form to be adopted with the introduction of the tax on 1 January 2018, with the aim of improving the levels of tax compliance.

The Authority indicated that two forms of invoices will be approved.

Simplified Tax Invoice

The first is a simplified tax invoice for the supply of goods or services with a total value of less than one thousand Saudi riyals containing the date of issue, the name, and address of the supplier and the tax identification number, the statement of goods or services supplied, Payment for goods or services, in addition to indicating the tax to be paid or indicating that the consideration includes the tax in respect of the supply of goods or services, and no simplified tax invoice may be issued in respect of inter-shipment or export of goods.

VAT Invoice

Detailed Tax Invoice

The second model is for supplies of more than SR 1,000. The invoices for these supplies will be more detailed according to Article 53 of the Executive Regulations, which stipulates that the tax invoice shall be in Arabic, in addition to any other language issued by it, From the date of issue of the invoice, the serial number identifying and distinguishing the tax invoice, the supplier's tax identification number, the customer's tax identification number (if the customer is responsible for the calculation of the import tax and a statement thereof), the date on which the supply was signed, the name and address of each The amount and nature of the goods supplied, the scope and nature of the services provided, the amounts subject to tax at rate or exemption, the unit price is not inclusive of tax, and any discounts or rebates if not included in the unit price, applicable tax rate, Due in riyal.

Vat invoice
According to the Implementing Value Added Tax (VAT) regulations, each taxable entity is required to issue tax invoices when supplying goods or services subject to VAT or any payments made in respect of the supply of goods or services. This helps enterprises to submit their tax returns at the time they are due, Procedures and requests for refund of taxes on inputs.

The Authority stressed that the value-added tax should be applied to the final reduced price in the event of reduced prices on any of the goods or services supplied, and called on the enterprises to adopt a clear invoice specifying the goods or services that are not taxable either because they are exempt or subject to value-added tax of zero percent.

Recent Comments 9

  • By: Anonymous 3 years ago
    By Muhammed Shareef Hi the name of our institution in RC (Sijil Thijari ) and Ruksa of Baladiyya is diffrent. which one to be adopted in VAT invoices of Purchase and sales Invoices
  • By: DIDAR KARIM 3 years ago
    Hi Our School allocate fees whole year with one invoice, and there are two semesters in academic year is August to July, 1 semester end in December and Exam held in December and Second Semester Start in February and exam in June. One Invoice Generated in Sept-2017 Both SR.23000 for Bother Semester. He paid 23000 or Paid 10000 who to Calculated VAT as per VAT Tax Policy .
  • By: Anonymous 3 years ago
    How i record the purchase invoice and expenses invoices from unregistered suppliers?
  • By: Anonymous 3 years ago
    is there any specific or proforma tax invoice to pattern or modify or customize existing personal company invoice?
  • By: Anonymous 3 years ago
    Is can be vat Invoice manually entered?
  • By: Anonymous 3 years ago
    Yes...vat must be payable if invoice created after December 2017
  • By: Anonymous 3 years ago
    Is VAT applicable for the goods supplied in December' 2017 and raising Invoice in January' 2018?
  • By: cpa club 3 years ago
    Your question answered in the forum
  • By: Mohammed Khadeer 3 years ago
    Hello Admin, Our's is service based organization. I have one scenario for monthly invoices and advance amount receive as voucher. For Example Consider 3 months contract with monthly value as 3000.00 SAR. Total Contract Value is 9000.00 SAR Customer Paid [9000.00 + 450.00 (@VAT 5%)] = 9450.00 SAR - Raised Voucher as V1. Note: We are reconciling our invoices auto from advance, what the amount we received at contract as advance. Jan 2018 - Invoice 1 3000.00 + 150.00 = 3150.00 Feb 2018 - Invoice 2 3000.00 + 150.00 = 3150.00 Feb 2018 - Invoice 2 3000.00 + 150.00 = 3150.00 ------------------------------------------------------------------------------- VAT Filing in the month of Jan 2018 ------------------------------------------------------------------------------- V1 9000.00 450.00 = 9450.00 I1 3000.00 150.00 = 3150.00 ------------------------------------------------------------------------------- 12000.00 600.00 = 12600.00 ------------------------------------------------------------------------------- Assumptions are that, here Input VAT=0.00 SAR Output VAT= 600.00, From Above Example Tax Payment in Jan 2018 to Govt is = 600.00 - 0.00 = 600.00 (Output VAT - Input VAT) Tax Payment in Feb 2018 to Govt is = 150.00 - 0.00 = 150.00 (Output VAT - Input VAT) Tax Payment in Mar 2018 to Govt is = 150.00 - 0.00 = 150.00 (Output VAT - Input VAT) For This Contract I paid Totally VAT to govt is 900.00 SAR. Actually i should pay only 600.00 SAR. Here My Questions: 1. Actually how i have to plan my VAT filing and where i did wrong in above example? 2. VAT Sales filing is correct in above scenario? Please help me in this regard. Many Thanks., BR, Abdul Khadeer

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