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Find out the latest news on electronic invoicing

17 Mar 2023. 12:08
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From 2025, electronic invoicing will be mandatory for all companies in Spain. In addition, it will also be compulsory for commercial transactions between companies. We'll tell you all the details here!

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There are approximately 2,935,000 SMEs in Spain that have been affected by the Crea y Crece Law. As a result of this law, from 1 January 2023, electronic invoicing will be mandatory for all self-employed workers or companies with an annual turnover of more than 8 million euros. From 2025, it will be compulsory for self-employed workers or companies with an annual turnover of less than 8 million euros. In addition, it will soon also be compulsory for commercial transactions between companies and professionals.

Therefore, the Ministry of Economic Affairs and Digital Transformation has launched a public consultation on the Crea y Crece Act. This consultation allows SMEs and the self-employed to make contributions before the draft Technical Regulation that develops the Law is drawn up.

Below, we tell you what electronic invoicing consists of, and the implications that mandatory electronic invoicing will have for commercial transactions between companies and professionals.

 

What is an electronic invoice?

As indicated by the Ministry of Finance, an electronic invoice is an invoice issued in electronic format. For legal purposes, it is the same as a conventional paper invoice.

There are two types of electronic invoices:

  • Structured: the data is generated automatically by the invoicing systems.
  • Unstructured: they are generally issued directly in PDF format, but can also be scanned in paper format.

 

What are the advantages of electronic invoicing for the self-employed?

Electronic invoicing will allow up to 60% cost savings for the self-employed. Among its advantages, the following stand out:

  • It facilitates collaboration between administration departments.
  • It allows precise control of transactions.
  • It contributes to the improvement of the environment, eliminating printing and mailing costs.
  • Reduces human errors.

 

What does the extension of electronic invoicing to business transactions entail?

As mentioned above, the Government has launched a public consultation in which SMEs and the self-employed will be able to participate before the draft Technical Regulation is drawn up. The deadline for participation is 22 March 2023.

This public consultation includes the idea of extending the mandatory nature of electronic invoicing to business transactions. This new extension of e-invoicing will ensure greater control of payments, contributing to compliance with general and sectoral late payment regulations. In addition, transaction costs will be reduced thanks to the integration of all invoicing functions, thus gaining speed and efficiency.

With the aim of facilitating its implementation among SMEs and the self-employed, the Public Administration will make a public infrastructure available to the self-employed and companies to access electronic invoicing. In addition, they can count on the support of the Kit Digital solutions described below.

 

How can the Digital Kit help me implement electronic invoicing?

If you are an SME or self-employed, you can count on the support of the Kit Digital to implement economic invoicing in your company, and thus comply with the new regulations imposed.  

Thanks to the electronic invoicing solution, you will be able to digitise the flow of issuing and receiving invoices from both your customers and suppliers.

Among the functionalities and services you can enjoy, the following stand out:

  • Sending and receiving invoices: you will be able to send and receive electronic invoices directly, at least by e-mail.
  • Unlimited invoicing: you will be able to issue and receive an unlimited number of invoices.
  • Unlimited clients: the ability to send invoices to an unlimited number of clients.
  • Issuance of verifiable invoices: invoices will be verifiable with the Tax Agency by the buyer.

The maximum amount of aid is €2,000 divided into:

0 < 3 employees: €1,000 (includes 1 user). 3 < 9 employees: €2,000 (including 3 users). 10 < 50 employees: €2,000 (includes 3 users).

 

In addition to this Kit Digital aid, SMEs and the self-employed will benefit from extended transitional periods and adapted remittance formulas. This new extension of electronic invoicing will provide an additional boost to the digitalisation of SMEs and the self-employed within the framework of the Recovery Plan.

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