4.3.4. Immediate disclosure of information (SII)

On 1 July 2017, the new VAT management system became applicable, based on the Immediate Disclosure of Information (SII). This system, which is mandatory for some taxpayers and optional for the rest, entails a radical transformation of how the tax is processed, both from an assistance perspective and in terms of control.

The VAT management system now has invoicing information (both VAT due and VAT borne) practically at the same time the event occurs, given that the invoices are issued to the Tax Agency before 4 days have elapsed (8 in 2017) since the time of their issuance/posting. In this regard, the information is available both for the Tax Agency and for the taxpayer before the period for filing the self-assessment of the respective tax return forms, which represents a greater quality of data declared, as well as the eradication of tax filing obligations for certain annual returns, such as forms 340, 347 and 390.

From the offset, taxpayers have access to invoice comparison information, which compares the invoice issued by a supplier with that received by the customer.

Furthermore, the SII system has a 'Customer and supplier information query', which allows SII taxpayers to know what information their customers and suppliers are providing about them. Invoice record consultation and downloading options have also been expanded.

Taxpayers also have access to web services or online queries to improve the quality of tax returns regarding third-party identification.

To facilitate the implementation of the system and efficiently transfer information to taxpayers, the Tax Agency has created a specific space in its internet portal where all new changes are specified, and, in the second half of the year, set up two new assistance services that significantly facilitate compliance with obligations derived from SII: the deadline calculator and the virtual assistant.