The Zakat, Tax, and Customs Authority has set criteria for selecting establishments in the twelfth group to implement the “linking and integration” phase of electronic invoicing. This group includes establishments with revenues subject to value-added tax exceeding 10 Million Riyals in 2022 or 2023. Notifications will be sent to these establishments to prepare for integration with the FATORA system starting December 1, 2024. This second stage introduces additional requirements beyond the initial issuance and preservation phase, including linking taxpayers’ invoicing systems with FATORA, issuing invoices in a specific format, and incorporating extra elements. The transition will occur gradually, with each group being informed at least six months in advance. This phase is part of the Kingdom’s broader economic and digital transformation efforts, building on the successful first phase that began on December 4, 2021, which mandated the use of compliant electronic invoicing systems and improved consumer protection.
Source SNI
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- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
