| S. No | Name of the Wave | VAT Turnover | Turnover of which year? | Effective date |
|---|---|---|---|---|
| 1 | Wave 1 under phase 2 | Above SAR 3 billion | 2021 | 1st January 2023 |
| 2 | Wave 2 under phase 2 | Above SAR 500 million and below SAR 3 billion | 2021 | 1st July 2023 |
| 3 | Wave 3 under phase 2 | Above SAR 250 million and below SAR 500 million | 2021 or 2022 | 1st October 2023 |
| 4 | Wave 4 under phase 2 | Above SAR 150 million and below SAR 250 million | 2021 or 2022 | 1st November 2023 |
| 5 | Wave 5 under phase 2 | Above SAR 100 million and below SAR 150 million | 2021 or 2022 | 1st December 2023 |
| 6 | Wave 6 under phase 2 | Above SAR 70 million and below SAR 100 million | 2021 or 2022 | 1st January 2024 |
| 7 | Wave 7 under phase 2 | Above SAR 50 million and below 70 million | 2021 or 2022 | 1st February 2024 |
| 8 | Wave 8 under phase 2 | Above SAR 40 million and below 50 million | 2021 or 2022 | 1st March 2024 |
| 9 | Wave 9 under phase 2 | Above SAR 30 million and below 40 million | 2021 or 2022 | 1st June 2024 |