In Saudi Arabia, the Zakat, Tax and Customs Authority announced the companies included in the scope of e-Invoice liability in phase 2, the e-Invoice integration phase.
These companies were determined according to their revenues subject to value added tax overrun. According to this;
- 1st wave taxpayers with an annual turnover above SAR 3 billion are obliged from January 2023.
- 2nd wave taxpayers businesses with a turnover above SAR 500 million will be obliged from July 2023.
- 3rd wave taxpayers with an annual income above SAR 250 million will be obliged from October 2023.
- 4th wave taxpayers with an annual income between SAR 150 million and SAR 250 million will be obliged from November 2023.
- 5th wave taxpayers with an annual income between SAR 100 million and SAR 150 million will be obliged to issue e-invoices from December 2023.
ZATCA has announced the 6th group that will be obliged to issue e-invoices in the integration phase. According to this announcement, all taxpayers whose VATable income exceeds SAR 70 million in 2021-2022 will be obliged to issue e-invoices from January 1, 2024. Taxpayers belonging to this group will be integrated into the FATOORAH platform from January 1, 2024.