Reforming the Spanish VAT system
In December of last year, the Council of Ministers approved a legislative of a proposal aiming to reform the Spanish VAT system. This is now on the docket at the Spanish Parliament. Notably, this legislative proposal includes mandatory eInvoicing as early as 2023.
• For taxpayers, whose annual turnover exceeds eight million euros, eInvoicing becomes mandatory one year after the law is passed.
• For the rest of the companies and freelancers, this obligation will take effect two years after the law is passed.
While the entry into force is subject to obtaining a derogation of article 232 of the EU VAT Directive, the time between Italy’s request for a derogation of article 232, and the publishing of the official EU regulation was 7 months. Spanish eInvoicing can arrive sooner than expected.
Pincvision takes care of your SII reporting and help you manage the transition to eInvoicing
With our VAT compliance solutions you are sure that you are compliant, even when regulations change on short notice. We take care of all your VAT returns. Interested in learning more about our approach to your SII VAT reporting, or about one of our other services? Don't hesitate to contact us.
Interested in our approach regarding your VAT declarations? Let Pincvision take care of this.
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