This measure provides businesses and self-employed professionals with greater control and efficiency in managing their collections, enhancing transparency and security in commercial relationships.
The aim of this reform is to strengthen business competitiveness and position Spain as an attractive destination for foreign investment, while also enabling more effective medium term tax planning.
Its application raises particularities in newly created entities integrated in groups, which will not be able to benefit from the regime if the joint turnover of the group exceeds 10 million euros.
These adaptations respond to recent legislative and jurisprudential reforms, and affect both the determination of the taxable base and the application of differentiated tax rates.
The obligation to notify the Tax Agency of the change in status to Large Company must be fulfilled by submitting Form 036, within one month from January 1st.
The Verifactu system establishes the obligation to issue electronic invoices using software that complies with the technical and security requirements defined by the regulations, thus avoiding tax fraud.