On 1 January, Saudia Arabia’s integration phase of mandatory e-invoicing implementation focusing on transmission of e-invoices began. The first wave has been running since 1 January 2023, and the second wave will start on 1 July 2023. Saudi Arabia's tax authorities have recently selected more taxpayers to participate in the first wave.
As of 1 October 2023, taxapyers whose revenues subject to VAT exceeds 250 milion Saudi Riyals (€62 million) during 2021 or 2022 will be required to implement and comply with Saudi Arabia's e-invoicing legislation. Entities that meet these requirements must integrate their electronic solution with the government’s FATOORA platform.
It is worth noting that Comarch has successfully passed the qualification process and gained accreditation from the Zakat, Tax and Customs Authority as a Qualified E-invoicing Solution Provider in the Kingdom of Saudi Arabia.
The official accreditation demonstrates our capabilities to deliver high quality e-Invoicing solutions and confirms compliance with the latest legal regulations and data transfer standards.
There’s more you should know about e-invoicing in the Kingdom of Saudi Arabia – learn more about the new and upcoming regulations.