5 Major Developments in Saudi Arabia

5 Major Developments in Saudi Arabia

• KSA: Third Wave of Phase 2 E-Invoicing
• ZATCA says 26,500 Individuals and Business VAT-Registered
• Amendments to Excise Rules
• Rules and procedures for VAT recovery by licensed real estate developers
• Zakat, Tax and Customs Authority Clarifies VAT Refund Procedure for GCC Non-residents

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Coronavirus

• Saudi Arabia ‘virtually only country’ to successfully raise VAT in pandemic: Minister

Customs

• KPMG GCC Tax News – 11 January 2023

• Saudi Arabia introducing ‘customs clearance within 2 hours’ initiative at all ports

• KPMG Fakhro GCC Tax News – 09 March 2023

• Cabinet okays agreement with Saudi Arabia on customs cooperation

E-Invoicing

• ZATCA sets Criteria for Selecting Taxpayers in Third Wave of E-Invoicing

• ZATCA E-invoicing for Saudi Arabia

• ZATCA announces taxpayers in the scope for Phase 2 second wave

• GCC Indirect Tax Digest – 13 January 2023

• E-Invoicing updates in the Kingdom of Saudi Arabia

• Saudi Arabia Makes Electronic Invoicing Mandatory

• Voluntary participation in Phase 2 of e-invoicing

• SNI Recorded Webinar: KSA e-Invoicing Phase 2

• E-Invoicing: Phase 2 now commencing roll out by company size

• The second wave of e-invoicing integration phase

• Extension of Mandatory E-invoicing in KSA as of 1 July 2023

• Saudi Arabia e-invoices (FATOORAH) July 2023 wave 2

• Saudi Arabia announces third wave of Phase 2 e-invoicing integration

• ZATCA: Top FAQs about the Procedures for Implementing E-Invoicing in the “Integration Phase” (In Arabic)

• Saudi Arabia E-Invoices (FATOORAH) – Third Wave

• New group of taxpayers for Phase 2 of E-invoicing announced

• Zatca Determines the Criteria for Selecting the Taxpayers in Wave 3 for Implementing (Integration Phase) of E-invoicing

• ZATCA announced the scope of the Integration Phase third wave

• KSA: Third Wave of Phase 2 E-Invoicing

• KPMG Fakhro GCC Tax News – 29 March 2023

• Third E-Invoicing Wave Announced

• How does E-Invoicing work in Saudi Arabia

• Riyad Bank goes live in KSA with the E-invoicing ZATCA integration enabled by SunTec Xelerate

• Second wave of e-invoicing applicability

• Saudi Arabia announces second wave of Phase 2 e-invoicing integration

• End of E-invoice pilot testing phase and Fatoora portal go-live

• Zakat, Tax and Customs Authority Determines the Criteria for Selecting the Taxpayers in Wave 2 for Implementing (Integration Phase) of E-invoicing

• Saudi Arabia 2023 mandatory e-invoices (FATOORAH) updates

• ZATCA announces new threshold for phase-2 e-Invoicing

• Saudi Arabia Determines Criteria for Second Wave of the Integration Phase for the Country’s New E-Invoicing Requirements

• ZATCA has issued a detailed e-invoicing guideline recently

• Announcement of 2nd wave for E-invoicing – Phase 2 implementation

• ZATCA defines criteria for selecting establishments in 2nd phase of e-invoicing

• KSA announced the businesses affected by the second wave of the integration phase

• Scope of E-invoicing Phase 2 further clarified

Excise

• KPMG GCC Tax News – 11 January 2023

• KPMG Fakhro GCC Tax News – 09 February 2023

• Amendments to Excise Rules

• KPMG Fakhro GCC Tax News – 01 March 2023

Exemption

• ZATCA Urges Taxpayers To Benefit From The Cancellation Of Fines And Exemption Of Financial Penalties Initiative

Fraud / Tax Evasion

• KPMG Fakhro GCC Tax News – 09 February 2023
• Cabinet okays agreement with Saudi Arabia on customs cooperation

Free Trade Agreement

• KPMG Fakhro GCC Tax News – 16 March 2023

• KPMG Fakhro GCC Tax News – 01 March 2023

Legislative Change

• Public Consultation on Draft Amendments to Zakat Implementing Regulations

• Proposed amendments to the provisions of Article 34 of the VAT Implementing Regulations

Margin Scheme

• KPMG GCC Tax News – 11 January 2023

Place of Supply

• ZATCA Circular: VAT on Financial Services

• Proposed amendment to the provisions of Article 33 of the VAT Implementing Regulations

Rate

• VAT treatment of some financial services

• Saudi Arabia ‘virtually only country’ to successfully raise VAT in pandemic: Minister

• Saudi economy minister hails Kingdom’s VAT rise ‘success’ during pandemic

• ZATCA Circular: VAT on Financial Services

Real Time Reporting/Continuous Transaction Controls

• Voluntary participation in Phase 2 of e-invoicing

• Second wave of e-invoicing applicability

• End of E-invoice pilot testing phase and Fatoora portal go-live
• ZATCA defines criteria for selecting establishments in 2nd phase of e-invoicing
• KSA announced the businesses affected by the second wave of the integration phase
• Scope of E-invoicing Phase 2 further clarified

Real Estate Immovable Properties

• VAT treatment of real estate loan portfolio insurance

• E-Invoicing updates in the Kingdom of Saudi Arabia

• Rules and procedures for VAT recovery by licensed real estate developers

Registration

• ZATCA says 26,500 Individuals and Business VAT-Registered

Refund

• VAT Refund for Non-Resident Businesses

• ZATCA’s update on VAT refund to non-residents in Saudi Arabia

• Zakat, Tax and Customs Authority Clarifies VAT Refund Procedure for GCC Non-residents

• Update on VAT refunds to non-residents

• KSA VAT refund for non-resident taxpayers

• ZATCA: VAT Refunds for Non-Residents

• ZATCA: VAT Refund for Non-GCC Residents – In Arabic

Reporting / Compliance

• Saudi Arabia Tax Agency Announces VAT Return Filing Deadline for December 2022, Q4 2022

• Saudi Arabia E-Invoices (FATOORAH) – Third Wave

• Saudi’s ZATCA Urges Taxpayers to Submit VAT Returns for February

• KPMG Fakhro GCC Tax News – 09 March 2023

• KPMG Fakhro GCC Tax News – 22 February 2023

• Saudi Arabia Clarifies Financial Services VAT Rules

SME (Small and Medium-Sized Enterprises)

• Zakat, Tax and Customs Authority (ZATCA) issues guide for Small & Medium Enterprises (SMEs)

Supply of Services

• Tax Circular: VAT treatment of certain supplies in the Financial Services Industry

• Proposed amendment to the provisions of Article 33 of the VAT Implementing Regulations

Tax Authorities / Penalties

• ZATCA extends the exemption period for tax-related penalties

• Saudi Arabia Tax Agency Announces VAT Return Filing Deadline for December 2022, Q4 2022
• KPMG Fakhro GCC Tax News – 09 February 2023

• Proposed changes to the tax penalty regime in KSA

• ZATCA Urges Taxpayers To Benefit From The Cancellation Of Fines And Exemption Of Financial Penalties Initiative

• Saudi Arabia cancels Tax Fines

• ZATCA says 26,500 Individuals and Business VAT-Registered
• Cabinet okays agreement with Saudi Arabia on customs cooperation

• ZATCA extends amnesty for tax fines

• Saudi Arabia cancels Tax Fines

Taxable Transaction

• VAT treatment of some financial services

Technology

• SAP: Handling Intercompany transactions in KSA eInvoicing

Webinar/Event/Podcast

• SNI Recorded Webinar: KSA e-Invoicing Phase 2