- Self-employed professionals in Spain are facing significant changes to their VAT obligations
- Introduction of the ‘Franchised VAT Scheme’ for freelancers earning under €85,000 annually
- Eligible businesses will no longer need to submit quarterly VAT returns or include VAT on invoices in many cases
- Benefits of the new VAT rules include reduced administrative work, lower costs, and competitive pricing
- Disadvantages include no VAT deductions and potential impact on high-cost sectors
- Upcoming changes include simplified error correction and mandatory electronic filing for cross-border VAT
- These changes are part of Spain’s efforts to modernize and simplify tax compliance for self-employed individuals.
Source: euroweeklynews.com
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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