- The Spanish government has submitted a revised version of the draft Royal Decree for the “Crea y Crece” initiative, which aims to improve payment efficiency and promote business growth.
- All companies and self-employed individuals in Spain will be required to use electronic invoicing once the regulatory framework is approved.
- Compliance timelines have been updated, with different deadlines for sole traders and legal entities based on their annual turnover.
- The deadlines for compliance will begin after the approval and publication of the Royal Decree in the Official Gazette (BOE), expected to happen within this year.
- Buyers will be obligated to issue two mandatory responses for invoice statuses: acceptance or rejection of the invoice, and full payment of the invoice. There are specific timeframes for these responses.
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