The Zakat, Tax, and Customs Authority in Saudi Arabia has announced that taxpayers who are subject to value-added tax surpassing SR150 million (USD39.9 million) during 2021 or 2022 are required to integrate their e-invoicing systems with the Fatoora platform. Fatoora, an electronic invoicing project applicable to business-to-business, business-to-consumer, and business-to-government transactions, is set to facilitate the process. The announcement comes as the tax authority revealed the revenue figure as the criteria for selecting establishments in the fourth wave of e-invoicing Phase Two, commencing on Nov. 1, 2023.
Source: MENAFN
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