We kick off the new year and want to make sure you're up to date on the latest developments related to the Law.
On December 5th, the anti-fraud law regulationpublished
The implementation of the new system Verifactu , driven by the anti-fraud law, marks a significant milestone. This system aims to improve invoicing transparency by enabling the automated submission of records to the State Agency for Tax Administration (AEAT) through electronic means. Discover why you should prepare for its implementation!
What is Verifactu and why is it so relevant?
Verifactu not only complies with tax regulations but also boosts transparency and efficiency in business invoicing. Backed by the Tax Agency, its primary goal is to combat tax fraud, promoting digitization and automation in business tax processes. Its scope of application is across the entire Spanish territory.
How does Verifactu impact your business?
Verifactu will change the way you interact with your records. You will need specific software to generate a simultaneous or prior record for each invoice issued, ensuring immutability, traceability, and security. These records will be submitted to the tax agency voluntarily. But don’t worry, because this change will not only meet regulations, but it will also simplify your invoicing process.
This regulation establishes a series of requirements for invoicing solutions to prevent the manipulation or concealment of data, with penalties of up to €50,000 in case of non-compliance.
Key Features of the Verifactu System
- QR Code: Verifactu invoices must include a QR code that will contain a series of identifying data.
- Responsible Declaration: Software applications must confirm their compliance with the Invoicing Software Requirements Regulation, ensuring that they meet the established standards.
- Automatic Submission: The most convenient and government-supported option is the automatic submission of each invoicing record to the Tax Agency. This ensures compliance with all legal requirements.
- Traceability: The Verifactu system requires the generation of an immutable event record, providing traceability that must be kept until the tax obligations are statute-barred.
When and who does Verifactu affect?
Although we are still waiting for the final approval, it is essential to prepare in advance. Verifactu will affect all taxpayers engaged in economic activities, whether they are subject to personal income tax (IRPF) or corporate tax. Stay up to date with the deadlines and ensure that your invoicing software system is adapted before July 1, 2025.
Advantages you can't ignore:
- Trust Seal: Invoicing through Verifactu demonstrates your commitment to tax transparency, building trust with your clients and business partners.
- Facilitates Accounting: Automating the invoicing process simplifies tax filings, saving you time and resources in your accounting work.
- Transparent Economy: Contributing to the fight against tax fraud strengthens the economy by reducing the occurrence of illegitimate practices.
- Unification and Digitization: Verifactu promotes digitization and unifies processes, offering long-term time and cost savings.
Prepare for the Future with Software Adapted to Veri*factu
If you're ready to take the leap into invoicing excellence, at ALBIRA Solutions we guarantee a smooth transition. Our solutions are 100% adapted to the requirements of the Administration. Get ready for the future of business invoicing, saving time and money!