- ZATCA announced Phase 23 of e-invoicing for VAT-registered businesses in Saudi Arabia.
- Targets businesses with annual taxable revenues over SAR 750,000 from 2022 to 2024.
- Mandatory integration with FATOORA platform by March 31, 2026.
- Requires B2B electronic invoices in XML format and B2C invoices reported within 24 hours.
- Aims to increase tax compliance and improve audit transparency.
- Businesses must comply to avoid fines, with a grace period until December 31, 2025.
Source: taxilla.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.
