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Spain Canary Islands SII reporting Jan 2019

  • EU VAT
  • 04 May 2018 | Richard Asquith

Spain Canary Islands SII reporting Jan 2019

Spain's Canary Island VAT registered businesses will become subject to the real-time invoice reporting requirements, Suministro Inmediato de Informacion ('SII'), from 1 January 2019.

Since 1st July 2017 the Spanish Tax Authority has required that mainland large companies (over €6 million turnover per annum), VAT groups and reporters using REDEME make SII submissions. These submissions must be completed within four working days of the issuance or receipt of the invoice.

There are seven submissions required for SII:

1. Issued Invoices Ledger
2. Supply of Collections for invoices recorded in the Invoices issued ledger
3. Received Invoices Ledger
4. Supply of Payments for invoices recorded in the Invoices received ledger
5. Capital asset ledger
6. Specific intra-Community transactions ledger
7. Collections in cash ledger

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.