Electronic VAT Compliance

X-Net Software Solutions S.L.

    Are you ready for tax compliance digitalization on a global scale?

    Tax authorities throughout the world are moving towards electronic tax compliance, the aim being to improve the control processes related to tax, simplify procedures, and the automation of supervisory processes. This development also forms part of the global advance in company digitalization. However, in a global market such as this, each country continues to impose its own rules.

    This hampers the adaptation of companies as they see the technology as an obstacle and opportunity in equal measure as facing the main challenges requires:
    • - Implementation of technological solutions that allow communication with tax authorities to be addressed and automated electronically.
    • -Adaptation, in a global business ecosystem, to locally established tax compliance, in other words, with different characteristics in each region.


    Immediate Information Sharing SII

    The new Immediate Information Sharing system with the Spanish Tax Authority entered into force on July 1, 2017, affecting more than 62,000 businesses. This new requirement also includes adaptation of the internal systems of these businesses to the electronic declaration of VAT records practically in real-time.

    Businesses affected

    • • Large companies (with annual turnover in Euros over €6,010,121.04).
    • • Company groups for VAT purposes.
    • • Taxpayers registered in the monthly refund regime (REDEME)
    • • In addition, it is possible to voluntarily sign up to this model.

Information and deadlines

All VAT reports and record books should be sent to the AEAT electronic office.

  • Invoices Issued: This record book should be submitted within a deadline of four calendar days following issue of the invoice and, in all cases, before the 16th day of each month of the liquidation period in which the transactions are included.

  • Invoices Received: This record book should be submitted within a deadline of four calendar days following registration of the invoice in the accounts and, in all cases, before the 16th day of each month of the liquidation period in which the transactions are included.
  • Intra-Community transactions: The term is four calendar days, calculated from the time when dispatch or shipping begins, or when the goods are received.
  • Investment goods: To be submitted within the period corresponding to the last annual liquidation (January 30).

Format

VAT information must be sent to the SII platform in XML format, which consists of a header with the information on the holder of each record book and a block with the invoice details.

However, the AEAT has defined a specific XML schema for each message type, involving an added challenge for businesses.

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