Friday, December 15, 2017
The Regional Tax Offices and the Spanish Tax Agency have approved the introduction of the Immediate Supply of Information system (SII) for tracking VAT payments, whose use will be compulsory for certain tax payers:
- Those on the VAT monthly refund registry (REDEME).
- Large companies (with turnovers in excess of €6,010,121.04).
- Groups subject to specific tax regimes (VAT - REGE).
The SII system will require taxpayers to enter their billing data on the relevant Tax Office electronic platform, thus permitting the tax authorities to update their tax records practically in real time.
This step represents an important change to the existing VAT management system. The new system was introduced in the General Spanish Territory on July 1, last, while the regions subject to a special tax regime adopted the measure on January 1, 2018.
These are the legal details for the different provincial tax regimes:
- Alava: Provincial Decree 124/1993.
- Bizkaia: Provincial Decree 82/2017.
- Gipuzkoa: Provincial Decree 15/2017.
- Navarre: Provincial Decree 91/2017.
- General Spanish Territory: Royal Decree 596/2016.
