On 29 of September 2022, The Congress of Spain published in The Official Gazette (BOE) the Law for the Creation and Growth of Companies, also known as the "Crea y Crece" Law.
The legistlation is designed to create, grow and facilitate business for Spanish entrepreneurs after the Covid - 19 pandemic. One of the important regulations of this act is the introduction of provisions introducing mandatory e-invoicing for B2B transactions.
In September 2022, the Spanish government began a six-month period of preparing technical specifications and regulations (known as ‘regulatory development’).
The introduction of mandatory e-invoicing will be phased, taking into consideration taxpayers' turnover, and depends on the time of approval of the regulatory development.
It is very likely that this will take place as follows:
- Taxpayers with a turnover exceeding EUR 8 million – beginning of 2024 (one year after the regulatory development is approved)
- The rest of entrepreneurs – beginning of 2025 (two years after the regulatory development is approved).
It should not be forgotten that the Spanish government is obliged to apply to the European Commission for a derogation from Articles 218 and 232 of Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax.
There’s more you should know about e-invoicing in Spain – learn more about the new and upcoming regulations.