Saudi Arabia's E-Invoicing ZATCA Updates and Insights

In a bid to modernize its economy and streamline tax administration, the Kingdom of Saudi Arabia (KSA) embarked on a transformative journey towards electronic invoicing, or e-invoicing. This ambitious initiative, aims to digitize the invoicing process, replacing traditional paper-based methods with streamlined electronic systems. Here, we break down the key components of e-invoicing ZATCA initiative and provide insights into the latest updates.

E invoicing ZATCA Latest Updates: Waves

ZATCA e-invoicing journey has progressed in waves, with each wave targeting businesses based on their turnover. Here's a summary of the latest updates:

Wave 9 (August 23, 2023):

   - Taxpayer with a turnover exceeding 40 million SAR in 2021 or 2022 fall under this wave.

   - Integration Period: 1 Jun 2024 - 30 Sep 2024.

Wave 8 (August 23, 2023):

• Taxpayer with a turnover exceeding 40 million SAR in 2021 or 2022 fall under this wave.

• Integration Period: 1 March 2024 - 30 Jun 2024.

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Wave 7 (July 28, 2023):

• Taxpayer with a turnover exceeding 50 SAR million in 2021 or 2022 are part of this wave.

• Integration Period: 1 Feb 2024 - 31 May 2024.

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Wave 6 (June 16, 2023):

• Taxpayer with a turnover exceeding 70 million SAR in 2021 or 2022 are included in this wave.

• Integration Period: 1 JAN 2024 - 30 Apr 2024.

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Wave 5 (May 26, 2023):

• Taxpayer with a turnover exceeding 100 million SAR in 2021 or 2022 are covered by this update.

• Integration Period: 1 Dec 2023 - 31 Mars 2024.

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Wave 4 (April 28, 2023):

• Taxpayer with a turnover exceeding 150 million SAR in 2021 or 2022 are affected.

• Integration Period: 1Nov 2023 - 29 Feb 2024.

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Wave 3 (March 24, 2023):

• Taxpayer with a turnover exceeding 250 million SAR in 2021 or 2022 are part of this wave.

• Integration Period: 1Oct 2023 - 31 Jan 2024.

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Wave 2 (December 23, 2022):

• Taxpayer with a turnover exceeding 500 million SAR in 2021 are included in this targeted group.

• Integration Period: 1 July 2023 - 31 Dec 2023.

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Wave 1 (December 23, 2022):

• Taxpayer with a turnover exceeding 3 million SAR in 2021 are included in this targeted group.

• Integration Period: 1 Jan 2023 - 30 Jun 2023.