Spain Canary Islands SII reporting Jan 2019
- May 3, 2018 | Richard Asquith
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
Need a fiscal representative in Spain?
Non-EU businesses selling in Spain will need to appoint a fiscal representative alongside completing VAT registration and returns.
Fiscal representatives are responsible for the accurate VAT submissions of their non-EU clients.
Avalara offers a Fiscal Representative Service as part of its international VAT and GST Registration and Returns Service.
Need help with your Spanish VAT compliance?
Researching Spanish VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade.