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Accounting and Value Added Tax registration obligations

For VAT purposes you must:

  • Keep a Record Book of invoices received. Acquisitions and imports of fixed assets will be recorded separately, as well as the information needed to make any necessary adjustments. If you carry out other activities not attached to the simplified regime, any acquisitions corresponding to each different sector must be recorded separately.

  • Keep a Record Book of invoices issued if you carry out any of the activities whose indices or rates are determined considering the volume of revenue.

In addition to keeping books, you must keep:

  • invoices issued numbered by date and grouped by quarters.

  • Invoices and other supporting documents received

  • the supporting documents for the signs, indexes or modules applied

Bear in mind the ledgers for VAT may be compatible with those of personal income tax, adding the necessary data. Carrying them together does not entail having to meet any additional requirements other than those required if you carry them separately.

The Tax Agency provides you with a standardised format for ledgers that you can use for them to be kept jointly