The Kingdom of Saudi Arabia has further expanded the requirements for taxpayers to adhere to the obligatory issuance of electronic invoices and integration to the FATOORA platform.
On 18 August 2023, ZATCA announced the new threshold for taxpayers required to comply with Phase 2 of the e-invoicing mandate in KSA as of 1 March 2024.
Taxpayers with revenues subject to VAT greater than SAR 0,04 billion (ca. EUR 10 million) will now be in the mandate scope as part of the eighth wave of Phase 2 (Integration Phase).
This next wave will begin on 1 March, and taxpayers will given time to comply with the new regulation until 30 June 2024.
Source Pagero
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