Spain ratifies SII Immediate Delivery of Invoices

Wed 17th May 2017

Spain has this week gazetted (15 May) the requirements for large businesses to submit regular e-submissions of sales and purchase invoices.  SII will become live on 1 July 2017.

SII (Suministro Inmediato de Información)  requires large tax payers (over €6million turnover per annum) submitting monthly VAT returns, companies in VAT groups and companies on the monthly refund scheme to complete online submissions of invoices.  These submissions must be completed within four working days of the issuance or receipt of the invoice.   However, for 2017, an eight-day requirement will be applied.

The monthly VAT reporting deadline for affected businesses will be moved to the 30th of the month following the reporting period – February will be the last day of the month.  The requirement to submit recapitulative statements is removed.

Tax payers will also have to submit invoice details for the first half of 2017.  Taxpayers registered with REDEME or that are monthly tax payers are exempted from this requirement.

Taxpayers that do no fall within the criteria for submission may opt for voluntary registration with the scheme.

Are you ready for Spain's new SII legislation?
Find out more about Suministro Inmediato de Información (SII) in our webinar with Colin Matthews.

View webinar