Regulatory update – Spain

This decree establishes the requirements for computer or electronic systems and programs that support the invoicing processes of businesses and professionals, as well as the standardization of invoicing record formats.

 

The focus of the decree is on managing tax information and improving taxpayer support, with the goal of simplifying administrative processes for taxpayers. These new requirements will apply to corporate taxpayers, individuals engaged in economic activities, as well as developers and providers of invoice software.

 

Invoicing software systems must meet the following requirements:

 

✔ Integrity and immutability

✔ Traceability

✔ Preservation, accessibility, and readability

✔ Incorporation of a QR Code containing a graphical representation of the invoice’s content

 

Moreover, invoice software systems that effectively and continuously send invoice records to the Spanish tax authorities will be classified as VeriFactu systems, which won’t require digital signatures, only a footprint or hash.

 

In the short term, the goal is to move away from outdated registration and invoicing methods, spanning from non-digital systems to non-interoperable, disconnected systems. In the medium term, it seeks to generate significant savings in tax compliance costs while boosting competitiveness in an increasingly digital global economy.