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Spain’s tax reporting regulations shifts to e-invoicing

Tuesday 21st May, 2024

Spain’s tax reporting regulations are changing with an increasing shift to e-invoicing and real-time reporting to the tax authorities.

The Veri*factu regulation

In December 2023, the Spanish government approved a decree outlining the technical requirements for computerised invoicing systems. This Royal Decree 1007/2023, or legal regulation, is known as the Veri*factu regulation.

The regulation, which comes into effect in July 2025, sets out a standardised way of creating billing records electronically. It opens the door to ensuring that all businesses send real-time invoicing information to the tax authorities instead of periodic VAT returns.

When it comes into effect, every business in Spain will have to use an invoicing system that complies with these requirements. The only exception are the businesses that are already sending real-time information to the authorities under another system known as SII (Suministro Inmediato de Información). Every business turning over more than six million Euros is already following SII.

Standardised records required in the Veri*factu regulation

Every company will be mandated to create a record for every customer invoice, either prior to or during issuance. Termed "registros de facturación de alta" in Spanish, the regulation specifies a standardised format, structure, and technical criteria. This ensures traceability for each entry and prevents alterations without leaving a system mark.

The Crea y Crece law

Is not yet in place, but it’s coming. The big change with this law compared with previous legislation is that it will require that all businesses and self-employed individuals to send electronic invoices.

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Avalara

Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, eCommerce and other financial management system providers, Avalara delivers cloudbased compliance solutions for various transactional taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Canada, the U.K., Belgium, Brazil, and India.