New system in Spain for Immediate Supply of Information in VAT

Ms. Ana Ortega's picture
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The Immediate Supply of Information System is a new strategy in VAT management to provide taxpayers with a new assistance service based on the use of the electronic channel and new technologies.

The SII changes the way that VAT taxpayers must supply information about their transactions, and keep their VAT register books. The new system implies the electronic delivery of the billing records in a short period of time, bringing the moment of the invoice registration to the one of the underlying economic transaction. The real time information is mandatory for business with a Spanish turnover higher than €6.000.000, business registered in the monthly refund scheme and those registered as VAT group in Spain.

The legal context that allows to work in the implementation of this project is the recent published Royal Decree 596/2016, of 2 December, for the modernization, improvement and promotion of the use of electronic means in the management of the Value Added Tax. This Royal Decree includes the necessary rules to regulate the new system to keep VAT register books in the Electronic Office of the Spanish Tax Agency. The real time VAT reporting will be implemented from next 1st July 2017.

More information is available on the website of Spanish Tax Agency through the following links (Spanish full version/English limited version):

Spanish version

English version