ZATCA Announces New Wave 12 of the Integration Phase (Second Phase)
ZATCA Sets New Criteria for Twelfth Wave of E-Invoicing Integration Phase

ZATCA Announces New Wave 12 of the Integration Phase (Second Phase)

ZATCA has set the criteria for selecting establishments in the twelfth group to implement the "linking and integration" phase of electronic invoicing.

ZATCA (Zakat Tax and Customs Authority) has announced a new wave 12 to include more VAT taxpayers. This twelfth wave includes all VAT taxpayers with annual taxable revenue above 10 million SAR for 2022 or 2023.

This mandates VAT taxpayers of the twelfth wave to integrate with the Fatoorah platform to become ZATCA-compliant as of Dec 1, 2024. Similar to previous waves, the twelfth wave obliged taxpayers to be notified 6 months ahead of their integration date so they’re able to comply and prepare what’s needed during a reasonable period of time.

This second phase (Integration Phase) introduces additional requirements to phase one(Generation Phase) like integrating the organization’s internal system with the Fatoorah platform, abiding by additional E-invoice format rules, following the technical guidelines shared by ZATCA, using an E-invoicing system qualified by ZATCA, and other regulations.

ZATCA encourages VAT taxpayers included in the twelfth wave to speed up the compliance process not only to avoid penalties but also to ensure better economic and managerial perks that come with using E-invoicing systems in organizations. Additionally, it plays a pivotal role in combating the shadow economy, protecting sellers & consumers, and raising awareness of the crucial role it plays in reporting any business violating the rules to ensure everyone is equally treated under the law.

This phase is part of the Kingdom’s broader economic and digital transformation efforts, building on the successful first phase that began on December 4, 2021, which mandated the use of compliant electronic invoicing systems and improved consumer protection.

At bTranz, we provide various comprehensive E-Invoicing solutions and make sure meet all the rules of ZATCA compliance. Do contact us now for the exclusive guidance and support!!

???? ?????????????? ???? ?? [email protected]

???????? ???????? ?????????? ???? ?? www.btranz.com

#einvoicing #ZATCA #bTranz #newannouncement #newphase #businesssolutions #businesstips #b2b #gazt #Digitalinvoicing #oracle #financials #Taxinvoicecompliance #businesscompliance #financialservices #einvoice #oraclefusion #futuretrend #business #b2b #b2bbusiness #oracleERP #oracleEbusiness #Ebs #ZATCAPhase2 #industrialsolutions #implementation #projectmanagement #businessanalyst #erp #implementation #support #authority #clearance #support #ksa #saudiarabia


Great insights on eInvoicing! If you're using Magento, our extension can help streamline ZATCA compliance seamlessly. Check it out here: https://shop.aalogics.com/zatca-e-invoicing-phase-2-magento-extension ??

回复

要查看或添加评论,请登录

bTranz的更多文章

社区洞察

其他会员也浏览了