In Saudi Arabia, ZATCA announced the start of the fourth wave of the implementation of the "Integration Phase" of e-invoicing and the criteria for selecting taxpayers who will participate in it. It will be covered by all taxpayers whose VATable income exceeded 150 million Saudi riyals in 2021 or 2022. These companies are required to integrate their e-invoicing solutions with the FATOORA platform and start electronic document exchange from November 1, 2023.
The assumption of the "Integration Phase" is the implementation of the country's economic development and digital transformation and the continuation of the achievements from the first phase of the implementation of e-invoicing.
There’s more you should know about e-invoicing in the Kingdom of Saudi Arabia – learn more about the new and upcoming regulations.