Wave 13 of The Integration Phase
ZATCA is still in the process of implementing E-invoicing all around the Kingdom through organized waves as part of Phase Two known as the Integration Phase. Just right after their recent announcement of wave twelve, ZATCA proceeds to announce wave thirteen with their specified criteria. According to what had been shared, wave thirteen includes businesses with annual taxable revenue above 7 million for 2022 or 2023.
What Does This Announcement Mean?
This announcement published by ZATCA means all businesses included in wave thirteen are required to comply with the FATOORA platform according to the date set by ZATCA as it’s always published 6 months before the mandated date to enable businesses to comply by the required date which is 1/1/2025 for wave thirteen.
What is Phase Two?
Phase Two, also known as the Integration Phase, aims to help businesses comply with ZATCA’s E-invoicing requirements according to waves categorized based on the annual taxable revenue. It came right after Phase One known as the Generation Phase which didn’t mandate all requirements as Phase Two did. Phase Two required additional technical specifications that weren’t mandated in Phase One.
Complying With ZATCA
Complying with ZATCA enables businesses to avoid penalties associated with non-compliance, in addition to the essential role it plays in supporting the national economy. E-invoicing systems can drastically help businesses achieve better financial management and facilitate the follow-up process of any commercial activity to combat any suspicious activity or detected violation.
Are You Looking for Trusted E-invoicing Solutions?
InvocieQ is an E-invoicing solution provider in Saudi Arabia. We provide various options to answer our clients’ needs, this includes:
- InvoiceQ E-invoicing System: Use our ZATCA-compliant system to ensure full compliance.
- Integration Solutions: Seamless integration with ZATCA in 10 days only.
Contact us today and avoid penalties!
