- E-invoicing requirement extended to 10th group of taxpayers from 1 October 2024 in Saudi Arabia
- Criteria for selecting taxpayers in the tenth wave announced by Zakat, Tax and Customs Authority (ZATCA)
- 10th group includes taxpayers with VAT-liable revenues exceeding SAR 25 million in 2022 or 2023
- Second phase, integration phase, involves integrating e-invoicing solutions with FATOORA Platform
- Mandate for this group starts on 1 October 2024
- Specific format and extra fields required for e-invoices in this phase
- ZATCA to provide six-month notice before compliance date
- Additional requirements for storing e-invoices, including QR code
- Taxpayers urged to prepare for second phase and seek guidance if needed
- Non-compliance may lead to penalties
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
