Global Daily Tax News, Saudi Arabia Expanding E-Invoicing Regime From Feb 2025, (Aug 5, 2024)

Saudi Arabia will expand the nation's electronic invoicing regime to more taxpayers from February 1, 2025.

Under what will be the fourteenth phase of the rollout of the regime, from February 1, 2025, electronic invoicing obligations will newly apply to taxpayers whose taxable supplies amounted to SAR5m (USD1.33m) or more during 2022 or 2023.

Businesses are required to digitally link their systems with the tax agency's FATOORA Platform. In addition, taxpayers are required to structure their electronic invoices using a defined electronic format that, since the start of this year, includes additional elements.