Spanish SII update July 2018
- Mar 30, 2018 | Richard Asquith
Spain is planning modifications to its near live VAT transaction reporting regime, Immediate Supply of Information or SII.
Since 1 July 2017, SII reporting obliges qualifying businesses to summit relevant invoices within four days of issuance or receipt. It is only required from ‘large’ taxpayers (above €6m turnover per annum), entities in VAT groups and companies opted into the monthly refund regime. The data required includes:
- Sales invoices
- Purchase invoices
- Intra-community supplies
- Transactions for investment supplies
SII July 2018 changes
Minor XML file submission requirements are to change from 1 July 2018. These include:
- A new field flagging invoices above €100,000 is to be included
- An additional invoice code for import VAT deduction changes following a VAT audit
- A new field for invoices claiming more than one exemption classification
- A requirement for distance sellers to identify any sales where the customer has not been identified
- A requirement for tax payers who become liable to report under SII mid-year to supply all transactions from the earlier part of the year. This will be under a separate data field.
- A new field for simplified input VAT invoices with VAT to be deducted
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.