Saudi Arabia Issues E-Billing to Support SMEs

Saudi Arabia Issues E-Billing to Support SMEs

The Saudi cabinet announced that the Zakat, Tax and Customs Authority has the right to offer financial support to targeted institutions on the e-billing list whose annual revenues do not exceed $813,000.

Several specialists told Asharq Al-Awsat that Saudi Arabia aims to stimulate and develop small and medium enterprises (SMEs) to achieve the Kingdom’s economic plan goals.

The Zakat, Tax and Customs Authority, in line with the efforts to develop its electronic services, launched a new application ZATCA, which includes various services that help taxpayers perform their services quickly and automatically.

Member of Saudi Shura Council, Fadel al-Buainain, told Asharq Al-Awsat that the state continues to provide incentive programs and initiatives that include all establishments operating in the private sector.

Buainain indicated that providing financial support to the targeted facilities in e-billing is an important step that helps them grow and expand to achieve their goals.

The official explained that SMEs are a significant driver of major countries, and Saudi Arabia focuses on limiting all the challenges they face and addressing them immediately without hindering their progress.

He described the new ZATCA application as a step towards accelerating all services and providing a unique experience for taxpayers.

Economic expert, Abdul Rahman al-Jubeiry, told Asharq Al-Awsat that providing