The Spanish government approved the draft Law which is named ”Law for the Creation and Growth of Companies” which includes information about the obligatory B2B e-Invoicing. After the approval, law is published in the official Gazette. Additionally, it is expected that the regulatory framework will be released in 6 months and more details in technical requirements. There is an implementation timeline according to the annual turnover of the companies;
- Taxpayers with annual turnover of more than 8 million Euros will have one year after regulatory framework approval.
- For the remaining taxpayers, the obligation will enter into force two years after the regulatory framework is approved.
So, while B2B e-Invoicing will begin to take effect for large taxpayers in early 2024, full implementation is expected to take place between 2024 and 2026.
You can find more details below when we take a closer look to the Spanish e-Invoice system;
- All Spanish VAT registered businesses and individuals are under the scope,
- All businesses and professionals must issue, send, and receive electronic invoices in their business relationships with other entrepreneurs and professionals.
- The recipient and the sender of electronic invoices must provide information on the status of the invoices.
- Companies supplying certain services to final consumers must issue and send electronic invoices in their relations with individuals who agree to receive them or who have explicitly requested them. (for businesses in telecommunication services, financial services, water, gas, and electricity services)