Starting from October 1st, 2024, taxpayers in Saudi Arabia with VATable income exceeding 25 million Saudi Rials are required to integrate their e-Invoicing systems with the FATOORAH platform. The electronic invoicing project, known as FATOORAH, applies to B2B, B2C, and B2G transactions. The implementation began on December 4th, 2021, and will be carried out in two phases by the Zakat, Tax and Customs Authority (ZATCA). The new electronic invoicing system and technical requirements have been defined by ZATCA, and it will affect all resident taxpayers in the country, as well as third parties issuing invoices on behalf of VAT-liable taxpayers. Non-resident companies are exempt from this requirement.
Source Edicom
