The Zakat, Tax and Customs Authority (ZATCA) has announced the criteria for selecting targeted taxpayers in the eleventh wave for implementing the “Integration Phase” of e-invoicing. This wave includes all taxpayers whose revenues subject to VAT exceeded 15 million Saudi Riyals during 2022 or 2023.
ZATCA explained that these taxpayers would receive notifications to integrate their e-invoicing solutions with the FATOORA Platform starting from November 1, 2024. The Integration Phase (Phase Two) involves additional requirements compared to the initial Generation Phase (Phase One), which commenced on December 4, 2021.
Key Requirements for Phase Two:
– Integration of taxpayers’ e-invoicing solutions with ZATCA’s FATOORA platform.
– Issuance of e-invoices in a specific format with additional required fields.
– Compliance with the technical requirements set by ZATCA.
ZATCA will inform taxpayers of upcoming waves at least six months prior to their integration date, ensuring ample preparation time. The move towards e-invoicing is part of the Kingdom’s broader economic development and digital transformation efforts, aiming to enhance consumer protection and streamline tax compliance.
ADB World: Your Partner in E-Invoicing Solutions
As a ZATCA-approved provider, ADB World is committed to supporting businesses through this transition. We offer comprehensive e-invoicing solutions that meet ZATCA’s stringent requirements, ensuring seamless integration with the FATOORA platform.
Why Choose ADB World?
– Expertise in ZATCA regulations and compliance.
– Proven track record with Phase One implementation.
– Tailored e-invoicing solutions designed to fit your business needs.
– Ongoing support and updates to keep your systems compliant.
The success of Phase One has demonstrated the readiness and awareness of taxpayers in adopting e-invoicing. ADB World is proud to contribute to this success by providing reliable and efficient e-invoicing solutions.
Stay ahead of compliance requirements and ensure your business is ready for the Integration Phase. Contact ADB World today to learn more about our e-invoicing services and how we can assist you in integrating with the FATOORA platform.
For more information
visit our website adbworld.com
contact us at: +966 58 179 2055 /+966 59 324 3799
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