The Council of Ministers of the Spanish government has approved the rollout of the Immediate Information Sharing system (SII) with the AEAT, which will involve VAT e-management for more than 62,000 Spanish companies from July 2017.
The main new feature of electronic VAT bookkeeping is that the tax will now be declared to the Tax Agency (AEAT) in almost real-time. In fact, the legislation requires companies to present and declare the details of their invoices issued and received within a period which should not exceed 4 calendar days. This period will only be extended when the invoices have been issued by the recipient or by an accredited third-party, such as EDICOM. In these cases, the deadline will be 8 calendar days. As a new feature, during the first six months of SII operation, taxpayers will have an extraordinary term for submitting their information, which will be eight days.
Another of the big changes due to come with SII will be the simplification of tax compliance, as already occurred with e-invoicing. With this system, companies are limited to filing tax self-assessments. And models 347, 340 and 390, previously used to declare information, will no longer be necessary.
Businesses with turnover of over 6,010,121.04 euros classified as Large Companies, those listed in the monthly return regime (REDEME) and those belonging to VAT groups, will have just over 6 months to adjust to this new model, which poses a challenge in the technological adaptation of their internal management systems and connectivity with the AEAT electronic office.
Download our White Paper
To find out all the details of this system, download our White Paper on electronic VAT bookkeeping through the SII, which has detailed explanations of how VAT electronic bookkeeping works and the changes it entails for businesses.
EDICOM leading SII pilot project
In 2017, the AEAT will resume trials of the SII pilot project, with EDICOM playing a proactive role as international expert in developing data integration and e-invoicing systems. So much so, that we have already been working to adapt our solutions to the new requirements affecting electronic VAT management, to ensure secure connectivity with the AEAT electronic office.
The EDICOM SII Solution is integrated with the company ERP or internal management system to automate sending of data to the Tax Agency. This information is forwarded in the set XML format to the SII via web services through the EDICOM Public Administrations HUB. When the AEAT Agency receives data, it validates and returns one of these states: full acceptance, partial acceptance or total rejection. These responses, which may also be integrated in the ERP, are stored along with the original books sent to the AEAT in the EDICOMLta long-term safekeeping service, which is designed to provide responses to the particular features of SII, with a personalized viewer that lets you retrieve a replica of the VAT books kept in the la AEAT electronic office.