Resident businesses falling under the above waves have already been notified by the ZATCA to comply with Phase 2 of e-invoicing as per their applicable timelines.
Overview of the ZATCA announcement
Based on the latest announcements, the ZATCA will commence notifying the relevant taxpayers who fall within the third wave of Phase 2 e-invoicing integration, to go-live within the period 1 October 2023 to 31 January 2024.
Implications
Resident businesses should comply with the obligations of Phase 2 e-invoicing integration based on the notification received from the ZATCA and undertake the relevant steps in making the required changes in their IT systems. Taxpayers should be compliant with the Phase 2 requirements in line with the e-invoicing regulation in order to preclude possible penalties.
Taxpayers that do not fall within the first three waves of Phase 2 e-invoicing integration should monitor future announcements by the ZATCA to understand the integration timelines applicable to them as part of subsequent waves.
For additional information with respect to this Alert, please contact the following:
EY Consulting LLC, Dubai
Ernst & Young Professional Services (Professional LLC), Riyadh
Mohammed Bilal Akram, Indirect Tax
Peter Dylewski, Indirect Tax
Ajay Garg, Indirect Tax
Aliasgar Hussaini, Indirect Tax
Ernst & Young Professional Services (Professional LLC), Jeddah
Adrian Smith, Indirect Tax
Mohsin Rehmani, Indirect Tax
Ernst & Young Professional Services (Professional LLC), Al Khobar
Sanjeev Fernandez, Saudi Arabia Indirect Tax Leader
Gavin Needham, Indirect Tax
Ernst & Young — Middle East, Bahrain
Ernst & Young LLP (United States), Middle East Tax Desk, New York
For a full listing of contacts and email addresses, please click on the Tax News Update: Global Edition (GTNU) version of this Alert.