The Kingdom of Saudi Arabia is further extending requirements for taxpayers to adhere to the requirements for obligatory issuance of electronic invoices and integration to the FATOORA platform. The required participants for the fifth wave of Phase 2 (Integration Phase) are taxpayers with revenues subject to VAT surpassing SAR 0,10 billion (ca. EUR 25 million).
This next wave is scheduled to commence as of 1 December 2023, and taxpayers will have until 31 March 2024. Businesses fitti…