It is foreseen that from 1 of January of 2016 begins a voluntary phase in which a group of companies will participate in a pilot test to present VAT for the SII.

The Immediate Supply of Information (SII), is a change of the current VAT management system, which establishes a new procedure for keeping the VAT registration books through the electronic office of the Tax Agency, through the quasi-immediate provision of billing records .

The new SII it will be applicable on a mandatory basis to taxpayers who currently have an obligation to self-assess VAT every month (REDEME, Large Companies and VAT Groups), it will also be applicable to taxpayers who, voluntarily, decide to avail themselves of it.

Not necessary to send invoices to the tax office. Only fields billing records that are realized in the corresponding Ministerial Order which is currently in the pipeline will have to be submitted.

The deadline for sending the billing records will be four calendar days from the issuance / reception, as the case may be, or accounting record of the invoices issued or received and in any case before the 16 day of the following month, to that in that the accrual of the tax corresponding to the operation, which must be recorded or the period of liquidation in which the corresponding operations have been included, has occurred.

In intra-Community transactions, the term also be four calendar days from the start time of the dispatch or transport, or where appropriate, from the time of receipt of the goods to which they relate.

In investment goods, within the deadline last year settlement period (until January 30).

From the 1 of January of 2017 will begin the mandatory phase of application of this system, both for those taxpayers included in a mandatory manner, as for those who opt voluntarily.

About the Author:

Santiago Sanchez Campo

Santiago Sanchez Campo

DiG Lawyers