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back to index backEUROtalk March,  2017


Spain: Changes Introduced for Electronic Means in Handling VAT

Changes Introduced by Royal Decree 596/2016, for the modernization, improvement, and promotion of the use of electronica means in handling the Value-Added Tax

On December 6, 2016, the Official State Gazette (BOE: abbreviation in Spanish) published Royal Decree 596/2016, for the modernization, improvement, and promotion of the use of electronica means in handling the Value-Added Tax (VAT).

The decree amends: (i) the Regulations on the Value-Added Tax, approved by Royal Decree 1624/1992, of December 29; (ii) the General Regulations on tax inspection actions and procedures and the development of common rules in tax procedures, approved by Royal Decree 1065/2007, of July 27; and (iii) the Regulations on invoicing obligations, approved by Royal Decree 1619/2012, of November 30.

The Royal Decree introduces the Immediate Provision of Information (SII: abbreviation in Spanish) system. It also amends other aspects, such as the regime for Travelers VAT refund and the general deadline for sending invoices between companies.

Below we shall analyze the main changes, which will come into effect on 1 July 2017.

1. Immediate Provision of Information System (SII)

1.1 Content of the SII

The SII is a substantial change in the current system for handling the VAT; it involves keeping the VAT registration books through the Tax Agency (AEAT) electronic portal, supplying information on invoices almost immediately. The SII seeks to bring together the time of registering invoices and the time of effective completion of the underlying economic operation.

The taxpayers which apply the SII must handle the following Registry Books through the AEAT's electronic portal, including additional information:
"¢ Registry Book of Issued Invoices
"¢ Registry Book of Received Invoices
"¢ Registry Book of Investment Goods
"¢ Registry Book of Certain Intra-Community Operations

For this purpose, they must send the AEAT the details of the invoices, from which the different Registry Books will be kept almost in real time.

The system involves sending the same information as currently included in the VAT Registry Books and requires additional data contained in the invoices issued and received. It is important to point out that taxpayers are not required to send a copy of the invoices to the AEAT; rather, it is the data contained in them that must be sent.

To read the entire article, please click here.

Source: Baker McKenzie - GAI



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