ZATCA has developed the Wave 5 under phase 2 for the Kingdom of Saudi Arabia. This strategic phase is intended to improve compliance and to meet the Kingdom’s other aims of increasing economic transparency and digital innovations. Wave 5: Targeted…
Wave 4 of the Zakat, Tax, and Customs Authority electronic invoicing implementation started on Oct 1, 2023. It expanded the compliance framework for businesses with revenues over SAR 150,000,000. Wave 4 o phase 2 is for VAT-registered Saudi Arabian taxpayers…
Wave 3 of the Zakat, Tax, and Customs Authority electronic-invoicing initiative began on July 1 2023, aimed at businesses with revenues that exceed SAR 250,000,000. This phase was a crucial step on Saudi Arabia’s path to a transparent and fully…
On January 1, 2023, Wave 2 of the Zakat, Tax, and Customs Authority e-invoicing was launched. It targets businesses with revenues above SAR 500,000,000. The compliance requirements that were introduced in Wave 1 were extended to a larger segment of…
The first wave of ZATCA’s E-invoicing was launched on December 4th, 2021. This was an important step in Saudi Arabia’s journey to modernize their tax system. This wave was aimed at large companies with revenues above SAR 3 billion and…
Fund management is a crucial factor for any firm or organization in the world. Each organisation needs to have proper financial management systems which assist in making and achieving goals as well as meeting all tax connected laws. Value-Added Tax…
The implemented E-invoicing system in Saudi Arabia by ZATCA addresses a major leap in the improvement of tax compliance and the clarity of this sector. The initiative entails a change of the current conventional invoicing by embracing fully digital and…