In July 2017, Spain was among the first countries to implement automatic VAT reporting through the SII. Similarly, since 2015, there has been the Facturae standard for the exchange of B2G electronic invoices with public administrations. 

With law 18/2022 on Business Creation and Growth, also known as “Ley Crea y Crece” , Spain joins other EU countries (Italy, France, Poland…) and will implement electronic invoicing between companies (B2B invoicing). The purpose of this law is to improve the invoicing process and fight against tax fraud. 

Companies are faced with the challenge of preparing for the new invoicing model, which in many cases will require the adaptation of some of their processes. But, far from seeing it as a drawback, this change should be seen as an opportunity for modernization. There are clear benefits derived from the implementation of electronic invoicing processes, for example: 

– Reduction of invoicing time and costs: through automation, the invoicing process is streamlined, and errors are avoided. 

– Improved traceability of transactions with customers and suppliers: every transaction is secure and automatically recorded by both the invoice issuer and the tax authorities. This helps to reduce tax evasion and streamline payment management. 

Initially, the technical specification was to be ready 6 months after the approval of the law. However, at this moment, the process is still in the public consultation phase to collect contributions from the different stakeholders involved: companies, billing service providers or software companies among others, to prepare the technical regulation. 

Once the regulation is approved, companies must comply with the following schedule: 

– For companies subject to SII, whose turnover exceeds €8m per year, the implementation period is 1 year from the approval of the technical regulation.  

– The rest of the companies, whose turnover is less than €8m, will have 2 years to implement the process once the technical regulation is approved. At CODE10 we are following all the news about Spanish eInvoice and we will keep our customers informed of the latest developments at all times. If you want to know the latest news about electronic invoicing in Spain do not hesitate to contact us and we will keep you up to date with the latest news! 

Thank you for the interest in the Code10 eInvoicing – Integración SAP for eFactura Spain® . If you would like to get the latest updates about this new legal requirement, please provide us with your contact details below. We will send you further information and answer any questions you may have.