Formal obligations

The option to apply the RECC must be exercised at the time of submitting the declaration of commencement of activity, or in the census declaration (form 036 or 037) during the month of December prior to the beginning of the calendar year in which it must take effect. The option is understood to be extended, unless waived.

Resignation from RECC will be exercised by communication to the competent body of the AEAT through the census declaration which will be presented in the month of December prior to the beginning of the calendar year in which it must take effect. Said resignation will be effective for a minimum period of three years.

Taxable persons covered by this regime must include the following information in the record book of invoices issued:

1. That the operation has been carried out in accordance with RECC .

2. The dates of partial or total collection of the operation, with a separate indication of the corresponding amount.

3. Indication of the bank account or payment method used, which can prove total or partial collection of the operation.

The taxable subjects covered by this regime, as well as the taxable subjects not covered by the RECC but recipients of operations affected by it They must include the following information in the record book of invoices received:

1. That the operation has been carried out in accordance with the RECC.

2. The payment dates, partial or total, of the operation, with a separate indication of the corresponding amount.

3. Indication of the means of payment by which the total or partial amount of the operation is satisfied.