- Spain has published a royal decree approving the regulation for computer billing systems, which will be in force from July 2025.
- The regulation aims to prevent manipulation of accounting, invoicing, or taxation data.
- It requires electronic invoicing systems to have specific features, such as creating journal entries for each invoice action and connecting in real time with the tax administration.
- However, there are concerns about the scope of the regulation and its integration with existing systems.
- This regulation is closely related to the likely approval of mandatory electronic invoicing between taxable persons. The combination of these regulations, along with the existing SII system, will result in a large amount of information being sent to the tax administration.
- This poses a significant challenge for the world of VAT.
Source International Tax Review
