Compliance Alert – ZATCA expands scope and requirements for the seventh wave of Phase 2

Update: Compliance Alert – ZATCA expands scope and requirements for the seventh wave of Phase 2
Date: 2023-08-08

On 28 July 2023, ZATCA announced the threshold amount for taxpayers to comply with Phase 2 (Integration Phase) requirements from 1 February 2024.

The Kingdom of Saudi Arabia is further extending requirements for taxpayers to adhere to the obligatory e-invoice issuance and integration to the FATOORA platform.

The required participants for the seventh wave of the Integration Phase are taxpayers with revenues subject to VAT surpassing SAR 0,05 billion (ca. EUR 12.3 million).

Businesses in the scope should prepare to adhere to the new regulation.

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