During 2017, the Tax Agency promoted various measures for the provision of services by electronic means, among them emerged the Immediate Information Supply (SII). On July 1, 2017, the Tax Agency implemented a new VAT management system, known since then as the Immediate Information Supply.
Antifraud law and Crea y Crece law
With the aim of reducing tax fraud and late payment, the Ministry of Finance and the Ministry of Economy, Trade and Enterprise created the Anti-Fraud (11/2021) and Crea y Crece (18/2022) laws, respectively. The first of these is of a tax nature and is aimed at combating dual-use computerized invoicing systems. The second is of a commercial nature and aims to fight against late payment.
Each law has its own system to ensure compliance with the requirements of each of them. On the one hand, the Anti-Fraud law brings us the Veri*Factu invoice verification system, through which to send invoices. On the other hand, the Crea y Crece law brings us the electronic invoice format, a structured xml file.
Veri*Factu
Veri*Factu is a system that allows, through the generation of a sales invoice, the electronic signature of this through a hashing system (SHA-256). In addition, it allows to send it simultaneously to the AEAT servers (via EDI), print the ticket or invoice with a QR code and a unique token that allows tracking the transaction. This tracking can be done by both the AEAT and the third parties involved. Finally, it will also allow the transaction to be consulted at any time.
Currently, it is planned that small and medium-sized companies will have to start using Veri*Factu from January 1, 2026, while the self-employed will not have to start using this system until July 1, 2026.
For a system to be a Veri*Factu guarantor, it must allow the creation of invoices with a unique nomenclature and following an ordered series. In addition, it must guarantee the unalterability of invoices once they have been issued to the Tax Agency. Finally, it must have the possibility to fill in all the data that will be sent to the Inland Revenue when the invoice is sent immediately.
You can find more information about Veri*Factu in our article.
Electronic Invoice
The electronic invoice is a structured XML file that can respond to different formats: CEFACT, UBL, E-Invoice or EDIFACT. It must contain information about the company issuing the invoice, the receiving company (payer) and information about the invoice (taxable base, VAT, date, etc.).
At present, only companies that invoice the public sector are obliged to use electronic invoicing. For the time being, the Royal Decree regulating and introducing the mandatory use of electronic invoicing has not yet been approved.
The purpose of this invoice format is that any entity, whether authorities or third parties, can verify the payments and non-payments made by the company with which they have or will have an agreement.
Currently, once the XML file has been generated, it is possible to export it and upload it to the FACE platform or send it to a consultancy to be sent to them. However, when the Royal Decree is approved and the use of electronic invoicing is regulated, a Ministerial Order will also be issued to regulate the use of a Public Solution for Electronic Invoicing (SPFE), which will function as a universal repository for all electronic invoices, whether originals or copies and their status, paid or unpaid.
You can find more information about Electronic Invoice in our article.
Immediate Information Supply
The SII is a system for sending invoices to the public administration almost immediately. This “almost” immediacy is established since the invoice can be sent within 4 days from its registration. At the latest, the invoice must be sent before the 16th day of the month following the month in which it was registered.
Just as Veri*Factu will work in Odoo, the shipment will be made via EDI from the system itself once the invoice is registered.
However, there are some differences between SII and Veri*Factu, the main difference being the mandatory conditions of each one. The presentation via SII is mandatory for all companies with a turnover of more than 6 million euros, for companies registered in the REDEME and for companies under the special regime of the VAT/IGIC group of entities are also obliged to present it.
You can find more information about SII in our article.
Which should you use?
With the new regulations, from the entry into force of the Anti-Fraud Law and therefore of Veri*Factu, practically all companies and self-employed workers will be obliged to present their invoices by this means.
In view of the differences between Veri*Factu and SII, it is also worth highlighting the differences between Veri*Factu and Electronic Invoice. As both come from relatively new laws and are related to computerized invoicing systems, there is often confusion between them. Veri*Factu is the automatic sending of a commercial invoice to the Tax Agency. In this invoice they will be able to track all the transaction data. On the other hand, the electronic invoice is in xml format and is currently sent through the FACE platform. The purpose of this invoice is to check the payment/non-payment level of the issuing company.
So, if you are self-employed or invoice less than 6 million euros, you will have to use the Veri*Factu system. If you invoice over 6 million euros, you will have to use the SII system. Nevertheless, both will be available in Odoo.
As for electronic invoice, there is no need to use it at the time being, however, it is already running in Odoo in case you need to invoice any public administration or want to get a head start.
In short, the Anti-Fraud Law aims to reduce and put an end to tax fraud in Spain. The Crea y Crece law aims to promote the creation and digitalization of companies in Spain.
