VATupdate
spain

Share this post on

VeriFactu System to Combat Tax Fraud in Spain

  • The Anti-Fraud Law in Spain requires companies and professionals to use approved Digitalized Billing Systems (SIF) for accounting, billing, and management processes.
  • The law aims to prevent manipulation of accounting data and prohibits the use of “dual-use software” for shadow accounting.
  • The VeriFactu system refers to the state tax administration agency’s database for verifiable invoices. The system must meet certain characteristics and requirements, such as preserving billing information, ensuring inalterability of records, and automatically sending information to the tax agency.
  • Non-compliance with the law may result in penalties for dual-use software providers and users.

Source Edicom

Sponsors:

VAT news

Advertisements:

  • VAT news