After finishing the third tax quarter and already with a view to complying with the census obligations that November brings with it with the Tax Agency and checking the obligations entailed by Form 232 – Informative declaration of related transactions and of transactions and situations related to countries or territories qualified as tax havens, we have had to stop with a new publication in the BOE, as the countdown to comply with the new obligations on electronic invoicing (known as Verifactu) has begun.
On October 28, 2024, Order HAC7/1177/2024, of October 17, 2024, was published in the BOE, developing the technical, functional and content specifications referred to in the Regulation that establishes the requirements to be adopted by the computer or electronic systems and programs that support the invoicing processes of businessmen and professionals, in force since October 29, 2024.
The publication of this Ministerial Order means the beginning of the computation of the maximum period of nine months in which manufacturers and marketers of invoicing systems for businessmen and professionals must market products adapted to the regulation, so this period will end on July 29, 2025.
However, it is expected that the deadline will be delayed until January 1, 2026 for corporate taxpayers and July 1, 2026 for individuals with economic activity, according to the proposed amendment of the Verifactu Regulation that has been published in the prior public consultation process, but as it is not a final text, it may undergo modifications until its official publication.
The most important objectives of this Ministerial Order are:
- To reinforce the obligation to issue invoices for all transactions carried out by businessmen and professionals.
- To ensure that all transactions are recorded in the computer system in a secure, non- manipulable, accessible manner and with a standard structure and format to facilitate the legibility of the records, the automated analysis and the simultaneous submission to the Tax Administration.
- Facilitate compliance with tax obligations.
It should be noted that this obligation to exchange invoices automatically with the Treasury affects companies with a turnover of less than 6 million euros, since those that exceed that figure are already obliged to send the information to the Treasury through the SII since the 2017 financial year.
From our firm we will take care of updating this information so that our clients can properly comply with the deadlines involved in the well-known Verifactu.
Leticia Cayuela Mayor
