One of the most eagerly awaited legislative approvals of the year is the Regulation that will regulate the electronic invoicing system in Spain between businesses and professionals. Law 18/2022, of 28 December, on the creation and growth of businesses (“Crea y Crece Law“) incorporated this new obligation in order to fight against commercial delinquency and contribute to the digitalization of companies, but conditioned its entry into force to the enactment of its regulatory development.
Following the publication of the draft Royal Decree on 15 June, we now know the scope of application and the technical and reporting requirements. It will be applicable to domestic transactions addressed to other businesses or professionals (with exceptions). It establishes the coexistence of a public electronic invoicing solution, which will be managed by the Tax Administration, with private platforms that must ensure the interconnection between them and with the public one. It should be noted that all invoices will have to be sent to the latter, regardless of whether a private platform is also used, so it will act as a repository for them. By default, it will be assumed that the public solution is chosen to facilitate the implementation of the new system.
Finally, it should be noted this new obligation will take effect one year from the date the aforementioned Royal Decree is enacted for businesses and professionals with total annual revenues of Euros 8 million or more and two years after the date the regulations are enacted for the rest of the businesses and professionals.
Do you need help in Spain?
Auxadi can become your ideal partner in Spain. We offer a one stop shop value added outsourcing services in the areas of accounting and reporting, tax compliance, payroll management and representation services, among others.
Local Knowledge – International Coverage
Founded in 1979, Auxadi is a family-owned business working for multinational corporations, private equity funds and real estate funds. It’s the leading firm in international accounting, tax compliance and payroll services management connecting Europe and the Americas with the rest of the world, offering services in 50 countries. Its client list includes many of the top 100 PERE companies. Headquartered in Madrid, with offices in US and further 22 international subsidiaries, Auxadi serves 1,500+ SPVs across 50 jurisdictions.
All information contained in this publication is up to date on 2023. This content has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice.No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this content, and, to the extent permitted by law, AUXADI does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.