- Spanish businesses must choose between the Verifactu invoicing system and the Immediate Supply of Information (SII) as the EU’s VAT in the Digital Age (ViDA) reform approaches. Verifactu aims to prevent fraud by ensuring traceable invoicing interactions, but it is not a real-time reporting system like the SII. From 2026, most taxpayers will need to comply with Verifactu unless they already use or opt for the SII, which allows real-time reporting. The ViDA project mandates electronic invoicing and real-time reporting by 2030, raising questions about the long-term viability of Verifactu. Businesses face potential double investment in adapting to both Verifactu and future ViDA requirements.
Source: internationaltaxreview.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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