The Kingdom of Saudi Arabia is further extending for taxpayers to adhere to the requirements for obligatory issuance of electronic invoices and integration to the FATOORA platform. The required participants for the third wave of Phase 2 (Integration Phase) are taxpayers with revenues subject to VAT surpassing SAR 0,25 billion (ca. EUR 62 million).
This next wave is scheduled to commence as of 1 October 2023. Businesses fitting the given criteria should prepare to adhere to the new regulat…