- Mandatory E-Invoicing and Certified Billing Systems: Spain’s “Crea y Crece” Law mandates the use of e-invoicing for B2B transactions to improve administrative efficiency and transparency. Additionally, Law 11/2021 requires certified billing software to prevent the manipulation of accounting data, with Royal Decree 1007/2023 outlining the requirements for such systems.
- Veri*factu System: The Veri*factu tool ensures the integrity, accessibility, and traceability of accounting records through features like QR codes and digital signatures. It enables real-time submission of billing records to tax authorities, enhancing fiscal control. The implementation deadline has been extended to January 1, 2026, for legal entities and July 1, 2026, for other taxpayers.
- Phased Implementation Based on Company Size: E-invoicing compliance in Spain is being phased in based on company size. Companies with an annual turnover exceeding EUR 8 million must comply one year after the regulation’s approval, while smaller companies and freelancers have two years. Delays are partly due to awaiting a waiver from the EU VAT directive, which requires recipient consent for e-invoicing.
- Benefits of E-Invoicing: E-invoicing is expected to improve administrative efficiency, provide tax authorities with better access to transaction data, enhance traceability of operations, and minimize past due payments. This measure complements other initiatives like the SII and SILICIE projects for special taxes, which aim to improve transparency and fiscal control.
- Alignment with the EU ViDA Package: The EU’s ViDA package, agreed upon on November 5, 2024, aims to adapt VAT management to the digital age. It encourages the use of modern technologies for efficient tax collection and harmonizes invoicing processes across the EU. Spain’s implementation of Veri*factu and progress towards mandatory e-invoicing align with ViDA’s objectives, including real-time exchange of invoicing data to reduce the VAT gap and optimize transaction control.
Source: bdo.global
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
