- Verifactu is a new electronic invoicing and reporting system in Spain, part of Anti-Fraud Law 11/2021, aiming to increase fiscal transparency and security.
- It becomes mandatory for software manufacturers by July 29, 2025, for companies by January 1, 2026, and for freelancers/unincorporated entities by July 1, 2026.
- Applies to most businesses and freelancers in Spain, except those in the Basque Country, Navarre, or already using the Immediate Supply of VAT Information (SII) system.
- Noncompliance can result in fines from the Spanish tax authority (Hacienda).
- The system is designed to align with broader EU digital reporting trends and offers benefits like improved compliance and streamlined invoicing.
Source: quaderno.io
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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