One of the systems that have been introduced in the Draft Royal Decree, which introduces new billing requirements, is the "VeriFactu" or "Veri*factu" system. We can define it as software that complies with the Royal Decree-Draft Law, which was published in February 2022 and introduces fiscalization in Spain. More precisely, a "VeriFactu" system is a verifiable receipt (invoice) issuance system, and its adoption is voluntary under the Draft Royal Decree.
What represents the "VeriFactu" fiscalization system in Spain?
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Spain
Author: Kristina Dosen
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Fiscal subject related
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Content accuracy validation date:
10.05.2023
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More precisely, VeriFactu is a voluntary system that will be in force until the mandatory implementation of the law. Although this regulation is not yet officially approved, it sets out the main requirements of the new fiscalization system in Spain, and its main goal is to communicate in real-time with the Spanish Tax Administration. Taxpayers who use computer billing systems to comply with invoicing obligations may choose to continuously send all the billing records generated by their systems to the tax authority. Therefore, and according to the current Draft Royal Decree, this is on a voluntary basis—automatically and securely by electronic means, all the billing and sales records generated by the computer systems are sent to the Tax Administration. Although it is voluntary, the Spanish authorities recommend choosing this way. This will be beneficial not only in relation to fiscalization but also from the perspective of accounting because, in this way, all sales and income will be reported to the Tax Administration. Also, in this case, the electronic signature will not be mandatory for the computer systems that send all billing and selling records to the Tax Administration, it will be sufficient that they calculate the footprint, or "hash," of billing and selling records. According to current information, this system is expected to be "live" by July 2024.
If the systems are "VeriFactu", receipts and invoices must include a phrase stating so. In other words, the expression "VeriFactu" or the entire phrase in Spanish "Factura verificable en la sede automática de la AEAT", which means that receipt (invoice) is registered, delivered, or verified in the AEAT, Also, a QR code will be present on the receipt (invoice).
To summarize, "VeriFactu" selling software must meet the following requirements:
- Guarantee the inalterability of billing and sales records.
- Include the QR code.
- Ability to automatically send the record to the Tax Administration
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