- E-invoicing requirement in Saudi Arabia extended to 12th group of taxpayers from December 1, 2024
- Taxpayers with VAT-liable revenues exceeding SAR 10 million in 2022 or 2023 included in the 12th group
- Second phase of e-invoicing system implementation involves integrating with FATOORA Platform
- Mandate for the 12th group starts on December 1, 2024
- Specific format and additional fields required for e-invoices in this phase
- ZATCA will provide six-month notice before compliance date
- Additional requirements for storing e-invoices, including QR code
- Taxpayers urged to prepare for second phase and seek guidance if needed
- Non-compliance with e-invoicing system may lead to penalties
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
