Saudi Arabis's Zakat, Tax and Customs Authority (ZATCA) has announced the criteria for selecting taxpayers in the third wave of e-invoicing implementation, also known as the "Integration Phase." The targeted taxpayers are all those who have revenues subject to VAT exceeding 250 Million Saudi Riyals in either 2021 or 2022 and are registered for VAT. These taxpayers should integrate their e-invoicing solutions with ZATCA's FATOORA platform from October 1, 2023.
ZATCA stated that the Integration Phase requires additional requirements, including the integration of e-invoicing solutions with FATOORA platform, issuance of e-invoices based on a specific format, and inclusion of additional fields in the invoice. The Implementation will be done in waves, and ZATCA will notify the upcoming waves at least six months before their integration date.
The launch of Phase Two is part of the digital transformation taking place in the Kingdom, and it aims to improve efficiency and accuracy of tax collection, reduce tax evasion, and enhance consumer protection. ZATCA commended taxpayers for their great awareness and swift response in implementing the Generation Phase.
Phase One of the e-invoicing implementation was introduced in December 2021, requiring taxpayers to cease generating handwritten or computer-generated invoices and to ensure technical compatibility with e-invoicing requirements. They must also generate and store e-invoices with the required fields, including the QR code and other specifications.
Taxpayers meeting the criteria set by ZATCA should prepare for the Integration Phase and take note of the necessary steps to integrate their e-invoicing solutions with FATOORA platform by October 1, 2023.
Sourec : https://zatca.gov.sa/
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