Zakat, Tax and Customs Authority (ZATCA) announced the eighth wave under phase 2 of Saudi Arabia e-invoicing. Moreover, it clarified that businesses registered under Value Added Tax (VAT) with a turnover exceeding SAR 40 million during 2021 or 2022 are included in wave 8 of phase 2.<\/p>\n\n\n\n
Starting from March 1st, 2024, businesses falling under Wave 8 are required to integrate their e-invoicing solutions with the Fatoora portal.<\/p>\n\n\n\n
Phase 2 of e-invoicing introduces additional requirements, including integration with the Fatoora portal, inclusion of specified fields in the invoice, and adherence to a prescribed format. ZATCA ensures that concerned businesses are notified of the applicability of Phase 2 at least six months before the integration date.<\/p>\n\n\n\n
Previously, ZATCA announced several waves under Phase 2, each targeting businesses with varying turnover thresholds. These waves have specific integration deadlines ranging from January 2023 to February 2024.<\/p>\n\n\n\n
ZATCA emphasizes that Phase 2 of e-invoicing plays a crucial role in advancing digital transformation and promoting economic development. It views Phase 2 as a continuation of the successful Phase 1, which focused on the generation phase.<\/p>\n\n\n\n
The implementation of Phase 1, starting from December 4th, 2021, mandated VAT-registered taxpayers in Saudi Arabia to adopt ZATCA-compliant e-invoicing solutions. This phase aimed to enhance consumer protection, raise taxpayer awareness, and ensure compliance with invoicing standards.<\/p>\n\n\n\n
Contact US for ZATCA e-invoicing: For inquiries and assistance regarding ZATCA e-invoicing solutions, feel free to reach out to adb world, your trusted partner for seamless integration and compliance support.<\/p>\n\n\n\n
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