Spain: New VAT electronic reporting system, effective 1 July 2017

Spain: New VAT electronic reporting system

A new “immediate supply of information” system will be effective for value added tax (VAT) purposes in Spain beginning 1 July 2017.

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The new system includes rules amending the manner for reporting VAT information to the tax authorities. For instance, the new system requires taxpayers to maintain their VAT books and invoice records through the website of the Spanish tax authorities. The new system is mandatory for taxpayers that currently file monthly VAT returns—generally, large companies, entities that form part of a VAT group, and taxpayers that have elected the special monthly VAT refund regime—and will be voluntary for other taxpayers. The new regime also establishes new reporting deadlines for VAT filings.

 

Read a December 2016 report [PDF 105 KB] prepared by the KPMG member firm in Spain: Electronic VAT Books – New “Immediate Supply of Information – SII” system approved with effect as of 1 July 2017

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