A month after declaring the criteria for wave three of phase 2, Zakat, Customs and Tax Authority has announced the targeted taxpayers who fall into the category of the fourth wave.
ZATCA released a statement on April 28th, 2023 that makes e-invoicing mandatory for taxpayers whose revenues subject to VAT exceed (150 million Saudi Riyals) during 2021 or 2022.
All those taxpayers are required to start the integration from 1st November 2023 along with the few additional requirements of phase 2 that include XML format of invoices & the taxpayer’s e-invoicing solution integration with the ZATCA platform.
Furthermore, ZATCA has started implementing the integration phase (phase 2) in waves & releases relevant information of every wave at least 6 months before the implementation begins.
Three waves had already been categorized by ZATCA & taxpayers will start implementing it from the date already given by ZATCA according to the category they fall into.
Companies falling in any wave of phase 2 can adopt the GoFatoorah solution to make the invoices compliant & more manageable with our end-to-end integration system.
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