- The Ministry of Economic Affairs and Digital Transformation has received approval from the European Commission for the new draft of the Electronic Invoicing Regulation.
- This marks a significant step towards the mandatory implementation of electronic invoicing in Business to Business (B2B) relationships in Spain.
- The Electronic Invoicing Law development began in March 2023 with a consultation to gather opinions from citizens and organizations.
- The new regulation will come into effect based on the annual turnover of businesses and professionals.
- Businesses with turnover over 8 million euros will have 12 months to comply, while those with turnover under 8 million euros will have 24 months.
- During the transition period, businesses will still be required to send invoices in PDF format to ensure smooth invoicing processes.
- Notification of invoice status will become mandatory 36 months after the publication of the Real Decreto.
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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