One step closer to electronic invoicing in Spain

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On July 16th, the Official Gazette of the Courts published the Bill on the promotion of electronic invoicing and creation of the accounting record for invoices in the Public Sector. The aim of this initiative, framed within the Public Administration reform plan, is to improve the competitive edge and efficiency of businesses while reducing administrative burdens.

According to government forecasts, the rollout of electronic billing could mean a net annual benefit for the General State Administration of 51 million euros. Moreover, it would save 2.3 million on paper, to which should be added the positive environmental impact entailed.

Once the law is approved, as of 1st January next year, the Public Sector should already be operating with a new invoice processing procedure. All Administrations will have an accounting record of receipts, whose managers will forward the information on invoices received to the Tax Authority. This will allow immediate knowledge of the real economic situation, making it possible to set budgets more in line with the actual situation, and public accounts would consequently be more reliable.

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