Starting from January 1st, 2025, taxpayers with VATable income exceeding 7 million Saudi Rials in 2022 or 2023 are required to integrate their e-Invoicing systems with the FATOORAH platform in Saudi Arabia. The electronic invoicing project, known as FATOORAH, applies to B2B, B2C, and B2G transactions. It became mandatory for all in-country taxpayers in December 2021 and is being implemented in two phases by the Zakat, Tax and Customs Authority (ZATCA). The new electronic invoicing system will apply to B2B transactions and will impact all resident taxpayers in the country, as well as third parties issuing invoices on behalf of VAT-liable taxpayers. Companies not based in Saudi Arabia are exempt from this requirement.
Source Edicom
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
