The Zakat, Tax and Customs Authority (ZATCA) introduced a new system of electronic invoicing in the KSA (Kingdom of Saudi Arabia) recently. This system was introduced in a series of phases to make it easy for people to transition into the same.
Here is a list of key dates that you should know if you are running your business in KSA. These dates will help you remember the deadline by which you have to follow the mandate released by ZATCA to avoid penalties.
|
Phase |
Wave |
Implementation date |
|
Phase 1 (Generation Phase) |
NA |
December 4, 2021 |
|
Phase 2 (Integration Phase) |
Wave 1 – above SAR 3 billion |
Wave1 – January 1, 2023
|
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Wave 2 – SAR 500 million to SAR 3 billion |
Wave 2 – July 1, 2023
|
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Wave 3 – SAR 250 million to SAR 500 million |
Wave 3 – October 1, 2023
|
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Wave 4 - SAR 150 million to SAR 250 million |
Wave 4 – November 1, 2023
|
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Wave 5 – SAR 100 million to SAR 150 million |
Wave 5 – December 1, 2023
|
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Wave 6 – SAR 70 million to SAR 100 million |
Wave 6 – January 1, 2024
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Wave 7 – SAR 50 million to SAR 70 million |
Wave 7 – February 1, 2024
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Wave 8 – SAR 40 million to SAR 50 million |
Wave 8 – March 1, 2024
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Wave 9 - SAR 30 million to SAR 40 million |
Wave 9 – June 1, 2024
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Wave 10 – SAR 25 million to SAR 40 million |
Wave 10 – October 1, 2024
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Wave 11 – SAR 15 million to SAR 25 million |
Wave 11 – November 1, 2024
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Wave 12 – SAR 10 million to SAR 15 million |
Wave 12 – December 1, 2024
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Wave 13 – SAR 7 million to SAR 10 million |
Wave 13 – January 1, 2025
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Wave 14 – SAR 5 million to SAR 7 million |
Wave 14 – February 1, 2025
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Wave 15 – SAR 4 million to SAR 5 million |
Wave 15 – March 1, 2025 |
e-Invoicing, simplified and stress-free
To make your e-Invoicing journey a walk in the park explore TallyPrime, accredited by ZATCA as a compliant e-Invoicing (FATOORA) software. Offering real-time e-Invoicing and compliance, the software can ease and strengthen your e-Invoicing process.
Here are some of the key TallyPrime e-invoicing features:
- Easily print e-invoices with a ZATCA-verified QR code, including the supplier’s name, VAT registration number, invoice amount, and tax breakdown
- Generate and archive tax invoices, credit, and debit notes in compliance with ZATCA
- Generate invoices in both Arabic and English along with other customisation options
- Efficiently generate multiple e-invoices from selected invoices simultaneously with bulk processing capability
- Effortlessly handle returns and reversals by generating e-invoices for credit and debit notes
- Monitor all transactions with the help of TallyPrime e-Invoice reports
Explore TallyPrime now.
