VAT and e-invoicing for marketing agencies
Aqid ERP implements ZATCA e-invoicing Phase 2: UBL 2.1 XML, XAdES signature and QR code. Once your device is connected with an OTP from the Fatoora portal, invoices to businesses are cleared with ZATCA before they reach the client and simplified invoices are reported. Its listing in ZATCA's solution-provider directory is in progress.
VAT at 15% is calculated on each invoice line, and input VAT on media, production and freelancer bills is tracked as you enter them. The VAT return is prepared from the books, so retainers, recharges and supplier bills all feed into it.
How you treat a recharged media cost for VAT depends on whether you buy it as principal or as the client's agent. Agree the treatment with your tax adviser; Aqid ERP records it either way.