Saudi Arabia: Third wave of e-invoicing applicability
ZATCA announced the third wave for implementing e-invoicing from 1 October 2023
ZATCA announced the third wave for implementing e-invoicing from 1 October 2023
The Zakat, Tax and Customs Authority (ZATCA) on 24 March 2023, announced the third wave for implementing electronic invoicing (e-invoicing) from 1 October 2023. This wave will cover taxpayers whose sales subject to value added tax (VAT) exceeded SAR 250 million for the year 2021 or 2022.
The covered taxpayers in the third wave will be required to integrate their e-invoice generation solution (EGS) with the ZATCA’s Fatoorah platform and generate additional fields in their database and on tax invoices needed for integration and compliance features. Tax invoices must be generated in XML format or a PDF/A-3 (with embedded XML).
Furthermore, the ZATCA governor issued Administrative Resolution No. 54252 which establishes a period between 1 October 2023 and 1 February 2024 for taxpayers to integrate with the Fattoorah platform. After 1 February 2024, taxpayers that fail to integrate will be subject to penalties.
For prior coverage on the second wave rollout, read TaxNewsFlash.
For more information, contact a KPMG tax professional:
Kathya Capote Peimbert | +1 503 820 6737| kcapotepeimbert@kpmg.com
Ramon Frias | +1 617 988 1000 | ramonfrias@kpmg.com
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.