In Spain’s fiscal landscape, two regulations are marking a significant change:
- Invoice Systems Regulation RD 1007/2023
- Future Electronic Invoicing Regulation.
Both aim to modernize and secure invoicing processes, in line with the anti-fraud measures promoted by the Anti-Fraud Law. In this article, we will explore these regulations and their impact on companies and the self-employed.
Invoice Systems Regulation RD 1007/2023
The RD 1007/2023 Regulation, also known as Verifactu, focuses on establishing secure and efficient IT systems for invoice issuance. Recently approved, it is awaiting the final approval of the Ministerial Order that will dictate its implementation.
Scope:
- Territorial: Spain, except for the Basque Country which already has its own system
- Subjective: those not included in the Immediate Supply of Information (SII).
The Verifactu Project is similar to the Ticket BAI system of the Basque Country, which is already mandatory in all three Basque provinces. This model requires entrepreneurs to issue invoices with specific security measures, such as electronic signatures and digital connections between consecutive invoices, ensuring data inalterability and traceability.
Among the main novelties is the mandatory inclusion of a QR code on all invoices starting July 1, 2025. This code will allow customers to verify the authenticity of invoices with the Spanish Tax Agency (AEAT), increasing transparency and hindering tax fraud. Additionally, each invoice must reference the previous one through a hash, ensuring the integrity of the invoicing process.
Future Electronic Invoicing Regulation
Although not yet approved, the Electronic Invoicing Regulation will complement RD 1007/2023. This regulation aims for the AEAT to automatically receive all invoicing information from taxpayers, eliminating the need to submit informational returns such as Form 347. This will simplify tax obligations and improve administrative efficiency.
The complete implementation of this regulation will depend on its approval date, which is yet to be determined. Once in force, all companies, regardless of size, as well as the self-employed, will need to adapt to this new electronic system. This includes using invoicing software that meets the new requirements, such as electronic signatures and the inclusion of QR codes.
In summary, the RD 1007/2023 regulation and the future Electronic Invoicing Regulation represent a crucial step towards modernization and security in invoicing processes in Spain. The Anti-Fraud Law and these regulations aim to close gaps that allow tax evasion, providing the AEAT with more robust tools to supervise and verify transactions.
Companies and the self-employed must prepare for these changes by adopting compatible invoicing systems and updating their internal processes. Despite the challenges this may pose, digitalization and new security measures will bring significant benefits, such as greater transparency, error reduction, and simplification of tax obligations.
This is a decisive moment for technological adaptation and the improvement of fiscal integrity in Spain. Staying informed and proactive in implementing these regulations will be key to complying with the new requirements and taking advantage of the opportunities these regulations offer.
