Zakat, Tax and Customs Authority (ZATCA) announced the criteria for the third wave of Phase 2 of E-invoicing. Taxpayers with at least 250 million Riyals revenue subject to VAT for either 2021 or 2022 must implement Phase 2 as of 1 October 2023.
Phase 2 is rolled out in waves, and currently the first group of taxpayers are integrating their e-invoicing solutions with ZATCA’s platform FATOORA. The second group will start implementing Phase 2 in July 2023.
Taxpayers in scope are notified by ZATCA and have at least six months to comply with Phase 2 requirements. Further details on Phase 2 can be found in our blog.
