UPDATE: Spain to introduce real time VAT reporting from July 2017

31 May 2017

Spain has now confirmed the introduction of 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 online within eight days of issuance or receipt. The reporting period will then be reduced to four days after issue from 2018.

This scheme, known as SII (Suministro Inmediato de Información), 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.  The requirement to submit recapitulative statements (such as EC sales) will be also removed.

Tax payers affected will also have to submit backdated invoice details for the first half of 2017.

LATEST NEWS

Emergency VAT measures to combat the financial impact...

Due to the negative financial impact that the Coronavirus pandemic is having on businesses all over the world, a number of tax authorities have implemented...

SEE MORE
LATEST NEWS

Luxembourg confirm that VAT penalties issued for...

The Luxembourg tax authorities have confirmed that VAT penalties issued for the late filing of VAT returns have been reinstated. To find out how this update...

SEE MORE
LATEST NEWS

Bulgaria proposes cut in the VAT rate for e-books and...

The Bulgarian tax authorities are proposing a cut in the VAT rate for e-books and catering services from 20% to 9%. If accepted, this will be introduced on 1...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.