20 December 2016
From 1 July 2017 Spain will introduce a new real time VAT reporting regime which will require large taxpayers to submit copies of their purchase and sales invoices to the tax authorities within four days of issuance or receipt.
This scheme will apply to large enterprises with an annual turnover of over €6 million and the companies affected will be granted an extended VAT return filing deadline of 30 days after the reporting period and the requirement to submit recapitulative statements (EC sales) will be also removed.
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