- Saudi Arabia’s Zakat, Tax, and Customs Authority (ZATCA) has announced the criteria for the sixth wave of the integration phase for the country’s new E-Invoicing (FATOORA) requirements.
- The integration phase is being rolled out in waves for targeted taxpayer groups and involves introducing technical and business requirements for electronic invoices and solutions, as well as integrating them with ZATCA’s systems.
- The first wave began on 1 January 2023 for taxpayers with VAT taxable revenue exceeding SAR 3 billion in 2021.
- The subsequent waves will begin on 1 July 2023, 1 October 2023, 1 November 2023, and 1 December 2023, respectively, for taxpayers with VAT taxable revenue exceeding SAR 500 million, SAR 250 million, SAR 150 million, and SAR 100 million in 2021 or 2022.
- The sixth wave will begin on 1 January 2024 for taxpayers with VAT taxable revenue exceeding SAR 70 million in 2021 or 2022.
Source Orbitax
