The Saudi Arabian Tax and Customs Authority, ZATCA, has announced the second group required to comply with Phase 2 for E-invoicing.
The second group of taxpayers are businesses with revenues subject to VAT which exceed half a billion riyals during 2021. The ZATCA will notify taxpayers in the group and this notification will provide taxpayers with a 6 month implementation period before they are required to be up-and-running with Phase 2. This effectively means that taxpayers in this group should expect to be notified during the next six months and expect to be live with Phase 2 obligations six months later during the period of 1 July 2023 to 31 December 2023.
More details regarding the requirements under Phase 2 can be found in our blog.