Phase 1 E-invoicing KSA

The purpose of introducing the system is to ensure proper business managing which will easily enable all tax payers to run the business in a better way. Though it will feel initially little bit difficult, once the system started running, everyone will find its easiness of handling interesting. Moreover, the system will enable all the business firms run with common tax procedure maintain a proper pricing in the market.

E-invoicing mandate in KSA

Phase two of the e-invoicing mandate will be implemented from 1 January 2023. The taxpayer must integrate into the ZATCA (FATOORA) platform and send e-invoices in the defined structured format, requiring all e-invoices to be reported and cleared in real-time to ZATCA. All taxpayers subject to VAT are now required to send e-invoices with specific content in a structured format, and e-archive them in accordance with the regulations. This means suppliers can no longer generate or store paper or PDF invoices.

Zakat, Tax and Customs Authority Initiates Procedures for Implementing Phase Two (Integration Phase) of E-invoicing Project

Zakat, Tax and Customs Authority (ZATCA) clarified that it has today initiated the procedures for implementing Phase Two (Integration Phase) of E-invoicing which aims to integrate E-invoicing solutions of taxpayers subject to the E-invoicing Regulation with ZATCA's platform (FATOORA), where ZATCA will inform and communicate with the targeted taxpayers to complete procedures for implementing Phase Two (Integration Phase) of E-invoicing.

UAE Introduces corporate tax law, 9% Corporate tax applicable from june 1, 2023

In January 2022, Ministry of Finance announced that it will introduce federal Corporate tax (CT) on the net profits of businesses. The tax will become applicable either on 1 June 2023 or on 1 January 2024, depending on the financial year followed by the business. CT will be applied across all the emirates.

ZATCA announces the criteria for the fourth wave of e-Invoicing Phase 2

The Zakat, Tax, and Customs Authority (ZATCA) has recently published a notification in which it lays down criteria for the selection of establishments to be targeted for e-Invoicing in the Kingdom of Saudi Arabia as part of the fourth wave of the "Integration Phase".

The ZATCA announces the implementation of Wave 6 of e-Invoicing in the Kingdom of Saudi Arabia

Zakat, Tax, and Customs Authority (ZATCA) has announced the selection criteria for taxpayers in the sixth wave of implementing the "Integration Phase" of E-invoicing. According to ZATCA, the sixth wave includes all VAT-registered taxpayers whose revenues exceeded 70 million Saudi Riyals during either 2021 or 2022.

ZATCA Sets Criteria for Targeted Taxpayers in Wave 12 of E-Invoicing Integration

The Zakat, Tax and Customs Authority (ZATCA) has set criteria for selecting targeted taxpayers in the twelfth wave of the E-invoicing "Integration Phase." This wave includes all taxpayers with VAT-subject revenues exceeding SAR 10 million in 2022 or 2023. ZATCA will notify these taxpayers to integrate their E-invoicing solutions with the Fatoora platform starting December 1, 2024.