Implementation of Mandatory Electronic Invoicing for Businesses and Professionals: Key Aspects and Objectives

• The Law Crea y Crece introduces the mandatory use of electronic invoicing among entrepreneurs and professionals
• Currently, electronic invoicing is mandatory for suppliers of the Public Administration and contractors or subcontractors of the State
• There is a one-year transitional period for companies and professionals to implement the necessary technology for the changes in invoicing systems
• The main objectives of the Law Crea y Crece are to promote digitalization in business relationships, reduce transaction costs, increase transparency, and prevent delays in commercial operations
• The law modifies the article 2.bis of the Law 56/2007 regarding electronic invoicing in the private sector
• All entrepreneurs and professionals must issue, send, and receive electronic invoices in their B2B operations
• Companies providing electronic invoicing services must ensure free interconnection and interoperability
• Recipients of electronic invoices can request a copy at no additional cost within four years of issuance
• Non-compliance with electronic invoicing obligations may result in fines of up to 10,000 euros
• Companies must identify all invoicing flows and take necessary actions to comply with the electronic invoicing law

Source: ayming.es

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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