- Verifactu Initiative: Spain’s Verifactu project focuses on enhancing e-Invoicing practices for smaller companies with turnovers under €6 million, aiming to increase transparency and streamline financial processes for SMEs outside the Immediate Information Supply (SII) system.
- Implementation Delays: Although the Verifactu project is progressing, with a Ministerial Order and test portal already in place, the original compliance deadline of July 1, 2024, is likely to be delayed to early 2026, affecting primarily smaller businesses not currently under the SII system.
- Preparation for Businesses: Affected companies should review their invoicing systems, stay updated on announcements from the Spanish Tax Agency (AEAT), and consult e-invoicing experts to ensure compliance and a smooth transition to e-Invoicing requirements.
Source RTCsuite
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See also
- E-Invoicing/Real Time Reporting – What can you find on VATupdate.com
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Collection of E-Invoicing Guides – Worldwide – VATupdate
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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