Riyadh May 02, 2023:

The Saudi Zakat, Tax, and Customs Authority (ZATCA) announced on 28 April 2023 that it has determined the criteria for the fourth wave of the integration phase for the country’s new E-Invoicing (FATOORA) requirements. The Authority clarified that the fourth wave included all taxpayers whose revenues subject to VAT exceeded SAR 150 Million during 2021 or 2022. VAT-registered taxpayers meeting the criteria should integrate their e-invoicing solutions with the FATOORA Platform starting from November 1, 2023.

It is worth reminding you that the first wave of the integration phase began on 1 January 2023 for taxpayers with VAT taxable revenue that exceeded SAR 3 billion in 2021, and it has been decided that the second wave will begin on 1 July 2023 for taxpayers with VAT taxable revenue that exceeded SAR 500 million in 2021 and the third wave will begin on 1 October 2023 for taxpayers with VAT taxable revenue that exceeded SAR 250 million in 2021 or 2022.

Read More.