ZATCA Phase 2, Waves 7 and 8 Announced: Featuring Businesses with Revenues of 40 Million and Above.

Explore the release of ZATCA Phase 2 Waves 7 and 8, unlocking new possibilities for streamlined E-Invoicing in Saudi Arabia. Learn how these waves align with the strategic roll-out phases and catch up on the previous milestones.

Ajith Kumar M
August 30, 2023
4 min

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Step into the Future: ZATCA Phase 2 Waves 7 and 8 Arrive on the Scene

In the realm of modern business transactions, E-Invoicing has emerged as a powerful tool for enhancing efficiency, accuracy, and compliance. The Kingdom of Saudi Arabia's (KSA), Zakat, Tax and Customs Authority (ZATCA) has been at the forefront of this transformation, introducing a phased approach to E-Invoicing implementation.

Waves 7 and 8: Embracing Progress

Wave 7:

  • VAT Turnover: More than SAR 50 million and less than SAR 70 million
  • Year Turnover Considered: 2021 or 2022
  • E-Invoicing Start Date: 01.02.2024
  • Integration Period: 1 Feb 2024 - 31 May 2024

Wave 8:

  • VAT Turnover: More than SAR 40 million and less than SAR 50 million (assuming this correction)
  • Year Turnover Considered: 2021 or 2022
  • E-Invoicing Start Date: 01.02.2024

Previous Waves: Just for your reference

Phase 1: Setting the Foundation

Phase 1 of ZATCA's E-Invoicing journey, initiated on December 4th, 2021, marked the Generation phase. It required businesses to generate and store tax invoices and notes through compliant electronic solutions. This foundational step laid the groundwork for a more streamlined and transparent invoicing process.

Phase 2: Elevating the Game

As the E-Invoicing landscape continued to evolve, ZATCA's Phase 2 implementation gained momentum. This comprehensive phase is being rolled out in waves, catering to businesses of varying sizes and turnovers. Waves 7 and 8, the latest additions to this transformative journey, signify a significant stride toward modernizing financial interactions in KSA.

Wave 1:

  • VAT Turnover: More than SAR 3 billion
  • Year Turnover Considered: 2021
  • E-Invoicing Start Date: 01.01.2023
  • Integration Period: 1 Jan - 30 June 2023

Wave 2:

  • VAT Turnover: More than SAR 500 million and less than SAR 3 billion
  • Year Turnover Considered: 2021
  • E-Invoicing Start Date: 01.07.2023
  • Integration Period: 1 July - 31 December 2023

Wave 3:

  • VAT Turnover: More than SAR 250 million and less than SAR 500 million
  • Year Turnover Considered: 2021 or 2022
  • E-Invoicing Start Date: 01.10.2023
  • Integration Period: 1 Oct 2023 - 31 Jan 2024

Wave 4:

  • VAT Turnover: More than SAR 150 million and less than SAR 250 million
  • Year Turnover Considered: 2021 or 2022
  • E-Invoicing Start Date: 01.11.2023
  • Integration Period: 1 Nov 2023 - 29 Feb 2024

Wave 5:

  • VAT Turnover: More than SAR 100 million and less than SAR 150 million
  • Year Turnover Considered: 2021 or 2022
  • E-Invoicing Start Date: 01.12.2023
  • Integration Period: 1 Dec 2023 - 31 March 2024

Wave 6:

  • VAT Turnover: More than SAR 70 million and less than SAR 100 million
  • Year Turnover Considered: 2021 or 2022
  • E-Invoicing Start Date: 01.01.2024
  • Integration Period: 1 Jan 2024 - 30 April 2024

Shaping the Future of E-Invoicing in KSA

With the strategic roll-out of ZATCA Phase 2 Waves 7 and 8, the landscape of E-Invoicing in Saudi Arabia has reached new heights of efficiency and compliance. As businesses across the nation continue to embrace this digital transformation, the E-Invoicing journey paves the way for a future of streamlined financial interactions, enhanced transparency, and sustainable growth.

Explore the full E-Invoicing journey and stay updated with the latest developments by visiting our blog page.