`SII´ System

• After each billing, taxpayers must send to the Tax Agency in a maximum of four business days the details of the invoices issued and received. 
• It will only be mandatory for a group of 62,000 taxpayers, made up of large companies, VAT groups and registered in the monthly refund regime. 
• They will have ten more days for their self-assessments and will not present forms 340 (record books), 347 (operations with third parties) and 390 (annual summary). 
• With the information received and that recorded in the database, the AEAT will prepare the taxpayer's tax data, for VAT purposes, facilitating the tax declaration.

 

October 20, 2014.- The Tax Agency has launched a modernization strategy in the management of Value Added Tax that will speed up refunds, provide the taxpayer with tax data for their declaration and practice verification actions in a more agile and effective manner, all thanks to the practically real-time knowledge that the Agency will have of the commercial transactions in which those affiliated to the system participate.

The new Immediate Information Supply system (SII) will come into force on January 1, 2017, so that there is sufficient time to introduce the necessary regulatory changes, adapt the IT systems of the Tax Agency and facilitate the adaptation of taxpayers. . It will only be mandatory for a group of around 62,000 taxpayers, made up of large companies, corporate groups for VAT purposes and registered in the monthly tax refund regime ('Redeme'); collective that, however, represents 80% of the total turnover of VAT taxpayers in Spain. The rest will be able to join voluntarily and, if they wish, resign from the system at the end of each year.

 

An instant information model

The proposed change consists of establishing the obligation to send the registration details of the invoices (not the invoices themselves) that must be recorded in the 'record books'. These shipments to the Tax Agency will involve keeping the VAT registration books through the Agency's website ( Headquarters.agenciatributaria.gob.es ), where these books will be created with each one of the shipments of the details of the operations carried out.

The information to be sent will include the essential elements of the invoice issued or received and, in the case of the registration of invoices received, the deductible fee. At the same time, the possibility of making summary entries (even in the case of tickets) will be eliminated in order to facilitate automation in the sending of billing records and, in turn, improve control tools and the detection of the so-called ' dual-use software' (computer programs that allow the concealment of sales).

To send the information to the Tax Agency, taxpayers enrolled in the system will have a maximum period of four days from the moment they issue or receive an invoice. At any time, by accessing the Agency's website, the taxpayer may consult both the information sent by him or herself, as well as that imputed through information from third parties who have also provided the records electronically.

VAT tax data

Following a scheme similar to the traditional personal income tax scheme, the new system will allow the Tax Agency to create tax data that the taxpayer can use when submitting their VAT return.

Furthermore, and with the objective that the taxable person can verify the details of the operations attributed to him and use this contrasting information in the preparation of his return, the period for submitting periodic self-assessments is extended to the first thirty days. calendar days of the month following the corresponding monthly or quarterly settlement period, as appropriate, or until the end of the month of February, in the case of monthly settlement for January.

 

Advantages of the system

- Voluntary compliance is facilitated: At the electronic headquarters of the AEAT, the taxpayer will have a “declared” record book and another “verified” one with information from third parties that belong to the group of this system or from the AEAT's own database. These tax data will be a useful tool to assist in the preparation of the declaration, reducing errors and allowing simplification and greater legal certainty.

- Reduction of indirect loads: Formal obligations are reduced, by eliminating the obligation to submit information returns corresponding to forms 347 (third party information), 340 (operations in record books) and 390 (annual VAT summary).

- Longer deadline for VAT settlements: The deadline for submitting periodic self-assessments is extended by ten days.

- More selective and faster checking: By obtaining information on operations practically in real time, the Tax Agency will be able to anticipate verification, therefore streamlining control and tax refunds. This streamlining will be more accentuated when the client and the supplier belong to the group of this system, since the information on the operations between both will be already crossed. On the other hand, the availability of complete information on the tickets will allow controlling the billing carried out through cash registers.