The Zakat, Tax and Customs Authority (ZATCA) Saudi Arabia announced on 24 May, 2024, the criteria for the 12th group of taxpayers will be required to comply during the implementation of the second phase of the electronic invoicing (e-invoicing) system.
The 12th group will include taxpayers with VAT-liable revenues exceeding SAR 10 million in 2022 or 2023. Starting 1 December, 2024, they must integrate their e-invoicing systems with the FATOORA Platform as part of the integration phase.
ZATCA specified that this phase will require issuing e-invoices in a designated format with additional fields and storing invoices with a QR code.
Taxpayers will receive a six-month notice before their compliance date to prepare adequately.
ZATCA emphasises the importance of readiness for this phase and advises taxpayers to seek guidance if needed. Compliance is mandatory, and non-compliance could result in penalties.
This move is part of ZATCA’s ongoing efforts to modernise the tax system and enhance compliance.
