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What does Fai offer you?

Invoices Tailored to Your Needs

Say goodbye to traditional paper-based processes and streamline your invoicing with electronic invoicing solutions, Approved by ZATCA.

Simplified Bookkeeping

Our system’s intelligent categorization of financial transactions makes it easy and efficient for you to manage your financial records. Get more time to focus on the success of your business with Fai

Specialized Tax Declarations

Focus on your business activities and don’t burden yourself with tax season pressures! Let our smart system handle the preparation and review of your tax declarations accurately and on time.

Reliable Financial Tax Consultations

Are you seeking advice from specialists? We work to bridge the gap between you and knowledgeable consultants to ensure you receive the support you need to make sound financial decisions.

Whoever your role is , Fai will serve you

Business owners

It provides you with all the tools to manage your financial operations easily and efficiently…

Accountants

Start your accounting journey now and utilize our invoicing system for efficient and accurate management of invoices…

Consultants

Begin your career as a high-efficiency tax and financial advisor with our integrated system…

Small & Medium Companies

Now benefit as a small or medium-sized company from the comprehensive capabilities of Fai…

Business owners
Accountants
Consultants
Small & Medium Companies

How Fai works?

Create your
company in Fai

Create your company now with Fai system!
Simply enter your company information
and start managing your financial and
tax operations with ease.

Add your
company’s products

Easily add your company’s products with us!
You can add your products for sale or purchase,
with the ability to attach images or any documents
and assign a code to each product.

Enter the list of clients
and suppliers in your company.

You can easily enter your list of clients and suppliers.
You can add them manually or through custom
Excel templates, and you can import
and export client and supplier files
while collecting details smoothly.

Create or retrieve invoices for
financial transactions in your company.

Manage your financial operations effortlessly with Fai, approved by
the General Authority of Zakat and Tax! You can easily issue sales invoices
and send them to your customers, as well as import sales invoices
through custom Excel templates and export them smoothly.
Additionally, you can manage purchase invoices and use
the assisting tax intelligence system to classify all
invoices according to their tax rate.

Now, issue your
tax declaration!

You can now automatically generate your VAT
or withholding tax declaration!
The Fai system calculates output and input
taxes automatically, displaying results directly,
whether refundable or payable, and provides
specialized tax reports in PDF and Excel formats.

How Does Fai Work?

Create your company in Fai

Add your
company’s products

Enter the list of clients
and suppliers in your company.

Create or retrieve invoices
for financial transactions
in your company.

Now, issue your tax declaration!

Leave the tax hassle to us, and embark on the growth of your business!

The first technical system designed to collect everything related to tax management in one place, and make it easier for business owners or service providers Tax consulting, issuing electronic invoices, managing financial operations, and preparing tax returns.

Invoicing

For individuals and small-medium enterprises that need to issue invoices only.

  •   Accredited by ZATCA.
  •   5 Users with different authorities.
  •   Create and send invoices.
  •   Customer accounts management.
  •   Products & services management.
  • Integration Management.

Monthly

100 Ryal

Yearly

1000 Ryal

Invoicing & Compliance

For individuals and small-medium enterprises that need to manage financial operations and tax returns.

  •   Invoicing package features.
  •   Review tax transactions using AI.
  •   Analytical tax reports for VAT and withholding tax.
  •   Integrated archiving of tax reports.

Monthly

200 Ryal

Yearly

2000 Ryal

Consulting Offices

For professional accountants and tax advisors

  •   Invoicing & Compliance package advantages.
  •   6 company.
  •   10 Users with different authorities.
  •   Unified interface for managing subsidiary accounts.
  •   Unified interface for monitoring the status of managed companies.
  •   Experience new system features before they are released to users.

Monthly

400 Ryal

Yearly

4000 Ryal

Custom Fai Package

Tailored for establishments requesting customized services.

  •   Customized Fai Package.
  •   Contact our sales team for pricing details.

Success Partners

Our Customers Feedback

Approved by Zakat, Tax & Customs Authority

Fai, Small and medium-sized companies tax partner,
TaxTech company, Saudi Arabia
Commerical register record: 1010808501
VAT registration number: 311329182100003

FAQs

When should I register for Value Added Tax (VAT)?2024-05-25T01:21:23+00:00

If you are a natural or legal person, engaged in economic activity, and conduct your activity on a continuous and regular basis with the aim of generating income, then you are subject to the regulations and legislation of Value Added Tax (VAT) in Saudi Arabia. There are two types of registration: mandatory and optional.
Optional Registration:
The legislation allows individuals or entities whose supplies or expenses in the past twelve months or expected in the next twelve months exceed 375,000 Saudi Riyals, with an increase of more than 187,500 Saudi Riyals, to optionally register for VAT purposes. Also, those whose supplies consist entirely of zero-rated items are allowed to register optionally. The registration becomes effective from the date of acceptance of the registration application by the authority.
Mandatory Registration:
Registration becomes mandatory for anyone who supplies goods and services subject to VAT, provided that their supplies of taxable goods or services during the past twelve months or expected in the next twelve months reach the mandatory registration threshold of 375,000 Saudi Riyals. Registration must be done within 30 days from the end of the month in which the supplies reach the mandatory threshold, and the registration becomes effective from the beginning of the first month in which the supplies are expected to exceed the mandatory registration threshold.

 

What are tax periods, and can I change them?2024-05-25T01:18:39+00:00

Tax periods depend on the annual supplies of the taxpayer. The tax period for individuals subject to Value Added Tax (VAT) whose annual taxable supplies exceed 40 million Saudi Riyals over the preceding twelve months is monthly, while for others, it is quarterly every three months.
A taxpayer whose annual supplies do not exceed 40 million Saudi Riyals may apply to the authority to use a monthly tax period, and the authority may approve or reject it.
Similarly, a person who has used the monthly period for two years may apply to the authority to use a quarterly tax period, provided that the value of their supplies during the year does not exceed 40 million Saudi Riyals at the time of application.
A person using the monthly period submits their first return to the authority at the end of the month following the month of supply. For example, they would submit the tax return for January on February 28.
As for a person using the quarterly period, they submit their first return to the authority on the last day of the month following the three-month period of supply. For example, they would submit the tax return for the first quarter of the year on April 30.

What is withholding tax?2024-05-25T01:15:59+00:00

Many establishments resident in Saudi Arabia often seek services from companies or individuals outside the Kingdom, whether these services are consultancy, technical, or engineering. When these services are requested from non-residents, they may be subject to withholding tax by the Zakat, Tax, and Customs Authority.
Withholding tax, also known as retention tax, is a direct tax determined at certain rates and applied to non-residents in Saudi Arabia. It is deducted from amounts they receive from a source within the Kingdom. Withholding tax rates in Saudi Arabia range between 5 and 20 percent.
Who is responsible for withholding tax?
The person responsible is defined as any individual residing in Saudi Arabia, whether taxable or non-taxable, or a permanent establishment for non-residents who pays amounts from sources within the Kingdom to non-residents. Thus, they are responsible for remitting the withholding tax amount to the authority.
As for the resident natural person, they are only obligated to withhold tax in cases where they pay an amount from a source within the Kingdom for services provided by a non-resident for the purposes of their economic activity.

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