The Government gives SMEs one month to reconsider their decision to share their invoices with the Treasury

The unexpected and surprising decision of the government, announced in person by President Pedro Sánchez himself, to postpone the entry into force of the regime which forced 1.4 million businesses, SMEs and VSEs to connect or, failing that, authorize … access to their tax billing systems, with barely a month remaining for its entry into force, was a relief for many, but also left hundreds of small businesses trapped who decided at the time to register with the Large Business Information System (SII) so as not to have to bear the entry fees into the Verifactu system.

As Joan Torres, president of the Spanish Federation of Tax Technicians and Advisors (Fettaf), explains, “hundreds of SMEs have chosen to join this system, which requires companies to send to the tax administration all invoices made within a maximum of four days, for avoid the costs of adopting Verifactu», which forced companies to necessarily adopt a new computerized invoicing system accredited by the Tax Administration with the costs that this could entail.

When the postponement of Verifactu became known, Fettaf requested by letter to the Secretary of State and the Minister of Finance to grant him the possibility of reversing his decision to adhere to the so-called Immediate Provision of Information (SII), since the regulatory channels did not allow them to do so for a year.

A month window

The Treasury considered it appropriate to restore the state of affairs before its decision to revoke Verifactu and took advantage of the omnibus decree to grant a one-month window, until January 31so that small and medium-sized businesses that have decided to join the SII to avoid the obligation to join Verifactu can choose to stay or unsubscribe and return to the previous situation.

He “extraordinary resignation” system permitted by the Ministry of Finance can now be processed via the electronic headquarters of the Tax Agency and will be open until January 31, from which date revocation will no longer be possible.

The objective of Verifactu was to configure a standardized invoicing system for all companies and professionals which would allow the Tax Agency automatically contrasts declared information by suppliers and customers, so the possibilities of skimping on profits not declared to the Treasury were practically zero.

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