- Introduction of Verifactu System: The Verifactu system, effective from January 1, 2026, aims to digitize the relationship between companies and the tax administration by ensuring the integrity and traceability of invoicing records to combat tax fraud.
- Challenges and Costs for Companies: While the system offers modernization opportunities, it imposes significant adaptation costs, particularly for SMEs. Companies must invest time and resources to modify billing systems, which may create burdens rather than simplifications.
- Perception and Future Impact: The effectiveness of Verifactu will depend on whether it is viewed as a collaborative tool for efficiency or merely as a control mechanism. Trust between taxpayers and the administration is crucial to avoid increasing the compliance burden on businesses.
Source elconfidencial
See also
Briefing document and Podcast: Spain’s VeriFactu Verified Billing System
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