ZATCA – A Compliance Solution for the Customers in KSA
Compliance was a domain we never thought of entering. Our deep engagement with a large number of retailers and our DNA of being agile and data-driven, got us engaged into the initial consultative dialogue process with the then called GAZT (General Authority of Zakat and Tax). They were looking for ideas on how to turn each invoicing generating device, connected and monitored by the tax authority. Once the regulations specs were finalised some of our customers asked us to help them comply.
Our team joined forces with Greencore in Italy and quickly worked out the PHILOBROKER ZATCA eInvoicing compliance that turned out a success beyond expectation!
PHILOBROKER ZATCA eInvoicing compliance currently runs successfully for a diverse portfolio of brands across Saudi Arabia. This solution addresses the requirement for taxpayers in KSA to utilise a technical (E-Invoicing) system for creation, storage, and reporting of electronic invoices, in accordance with the ZATCA E-Invoicing regulations published on December 4, 2020, to the Authority. The primary goal of this solution is to ensure accurate reporting of valid invoices generated from transactions conducted at POS systems at one end. At the same time consumers can verify their validity of their receipt through the printed QR code.
Thanks to partnerships and integrations with global leaders such as Gilbarco Veeder-Root , NCR Voyix , RPS Turkey, and others – we are now helping among others 3 out of the top 10 Grocery & 4 out of the top 10 fuel retailers in KSA comply with ZATCA!