(In Arabic: فوترة إلكترونية) A procedure aimed at converting the billing process and paper amendments into an electronic process that allows the exchange of invoices and their amendments and processing in an organized electronic format between the seller and the buyer in an integrated electronic format.
(In Arabic: نشاط اقتصادي) This is a broad term referring to the business activities which are – in principle – subject to VAT. This is defined in the Unified VAT agreement as an activity that is conducted in an ongoing and regular manner including commercial, industrial, agricultural or professional activities or Services or any use of material or immaterial property and any other similar activity.
(In Arabic: فاتورة إلكترونية) An invoice that is issued, saved, and modified in an electronic form organized through an electronic system, and contains all the requirements of the tax invoice. A handwritten or scanned invoice is not considered an electronic invoice.
(In Arabic: تعديلات الفاتورة الإلكترونية) Debit notes and credit notes that must be issued in accordance with the VAT Law and its Implementing Regulation, and which are issued in a structured electronic format through electronic means. Paper notes that are converted into an electronic format through copying, scanning, or any other method, are not considered electronic notes for the purposes of this Regulation.
(In Arabic: اتفاقية تبادل معلومات) An agreement concluded between a country and other countries to improve international tax compliance, which provides for the exchange of financial accounts information on a regular basis.
(In Arabic: تصدير السلع) Supply of Goods from any Member State to outside of the GCC Territory in accordance with the provisions of the Common Customs Law, during the transitional period, an export of goods includes goods exported to any place outside of KSA territory.
مكتب رقم 12 – برج بنك التنمية حي الغدير، الرياض، المملكة العربية السعودية
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