The Zakat, Tax, and Customs Authority in Saudi Arabia has announced that taxpayers who are subject to value-added tax surpassing SR150 million (USD39.9 million) during 2021 or 2022 are required to integrate their e-invoicing systems with the Fatoora platform. Fatoora, an electronic invoicing project applicable to business-to-business, business-to-consumer, and business-to-government transactions, is set to facilitate the process. The announcement comes as the tax authority revealed the revenue figure as the criteria for selecting establishments in the fourth wave of e-invoicing Phase Two, commencing on Nov. 1, 2023.
Source: MENAFN
Latest Posts in "Saudi Arabia"
- Briefing document: Saudi Arabia FATOORAH E-invoicing Compliance
- Saudi Arabia Launches VAT Refund Service for Tourists to Boost Economic Diversification and Tourism
- Saudi Arabia’s ZATCA Phase 23 E-Invoicing: Key Compliance Steps for 2025 Roll-Out
- Saudi Arabia Introduces VAT Refund Program to Boost Tourism and Shopping Experience
- Saudi Arabia Introduces VAT Refund for Tourists, GCC Nationals on Purchases Over SAR 500
