- The Zakat, Tax and Customs Authority (ZATCA) has announced the criteria for the 16th group of taxpayers required to comply with the second phase of the e-invoicing system implementation in Saudi Arabia.
- The 16th group includes taxpayers with VAT-liable revenues exceeding SAR 3 million in 2022 or 2023. The integration phase will begin on April 1, 2025, and taxpayers will need to integrate their e-invoicing solutions with the FATOORA Platform.
- ZATCA has provided details on the specific format and additional fields required for e-invoices in this phase. Taxpayers will receive a six-month notice before their compliance date, and they must adhere to the storage requirements, including the use of QR codes. Non-compliance may result in penalties, so ZATCA urges taxpayers to prepare and seek guidance if needed.
Source KPMG
See also
- E-Invoicing/Real Time Reporting – What can you find on VATupdate.com
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Collection of E-Invoicing Guides – Worldwide – VATupdate
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
