- Mandatory E-Invoicing Regulation: The Spanish Government has proposed a draft regulation mandating e-invoicing for B2B transactions, set to take effect one year after approval for companies with over €8 million in annual turnover, and two years for smaller businesses and professionals.
- Implementation and Monitoring: All invoices must be submitted through designated private e-invoice platforms or a public solution managed by the Spanish Tax Authorities, facilitating real-time tracking of payment statuses and deadlines to combat late payments and promote digitalization.
- Transition to New Formats and Standards: The regulation will transition from the existing Facturae format to the Universal Business Language (UBL) to comply with EU directives, with technical requirements established for private platforms, and certain invoice types exempted from the new rules.
Source EY
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
