Fiscal subject related
The decree also outlines a phased approach to the reinstatement of VAT on these items. From July 1 through September 30, 2024, the zero rate will remain in effect. However, starting October 1, 2024, a minimal VAT rate of 2% will be applied, which is still significantly lower than the standard rates. This interim rate will last until the end of the year, after which the original VAT rates will be restored on January 1, 2025.
This temporary relief is expected to provide substantial savings for consumers during this period, reflecting the government's commitment to supporting economic stability and the well-being of its citizens.
Other news from Spain
EU to protect domestic e-commerce sellers with a cross-border tax reform
As online shopping continues to grow, the European Union is planning to implement new regulations to protect local e-commerce sellers. One significant change affects consumers who shop on international platforms like Temu or AliExpress. The EU has already taken some steps at the first sign of growing foreign e-commerce sellers, and since July 1, 2021, all goods entering the EU, regardless of their... Read more
Indirect tax on Canary Islands—how is it regulated?
The Canary Islands' unique tax system, known as IGIC (Impuesto General Indirecto Canario), serves as the region's version of Spain's VAT. Established in January 1993, IGIC is a general indirect tax applied to consumption within the Canary Islands, including its territorial sea and airspace. While it functions similarly to mainland Spain's VAT, IGIC operates under a distinct set of rules and tax ra... Read more
EU VAT Validation Tool
One way to validate VAT numbers in the EU is the VAT Information Exchange System (VIES), which is a crucial tool for businesses operating within the European Union. Owned by the European Commission, VIES is a search engine that retrieves data from national VAT databases to verify VAT numbers. Here’s a detailed look at how VIES works and its significance. How VIES Works When a search is made usi... Read more
New updates regarding Spain VERI*FACTU system
The Spanish Tax Authority (AEAT) has recently submitted a draft Ministerial Order to the EU Commission, detailing the technical, functional, and content specifications for computerized billing systems (SIFs) known as Verifactu. This move is part of the implementation of Royal Decree 1007/2023, which introduces fiscalization in Spain and requires taxpayers to adapt their SIFs by July 1, 2025. The E... Read more
The current status of VeriFactu deadlines in Spain
Although fiscalization, known under the name Verifactu, was announced a couple of years ago, we are still waiting for more official regulations and confirmation, especially from a technical perspective. If we consider the main fiscalization regulation, Royal Decree 1007/2023 of December 5, which approves the Regulation that establishes the requirements to be adopted by computer or electronic syste... Read more
Technical Specifications in Spain for Generating Invoice Record Hashes
The document outlines the technical details necessary for implementing the requirements of Article 13 "Hash of Invoice Records" from the Order, which details the technical, functional, and content specifications for invoicing systems. Read more