The electronic VAT reduces the delivery of invoices to the Treasury from one month to three days

The SII automated system is successfully implemented in one year

More than 95% of the 55,000 affected firms already comply with the new measure

Just a year ago Spanish companies waited until the end of the month, or even the quarter depending on their size, to inform the Treasury of the invoices they issued or received. In other words, the Tax Agency could take from 30 to 90 days to know the billing of the Value Added Tax (VAT). A term that, in just 12 months, has dropped to around three days.

Such a revolution is due to the entry into force, on July 1, 2017, of the Immediate Supply of Information (SII), the new model for the exchange of information in real time on VAT by electronic means. On the anniversary of this change, both the Treasury and the tax advisors and the companies they assist agree that the implementation of the measure has been a "success", despite the fact that the process has not been without difficulties.

The "Immediate Supply of Information" (SII) represents a substantial improvement in the communication relationship between the Administration and the taxpayer, since it allows for a two-way, automated and instantaneous relationship. At the same time, it is configured as a novel tool, both for taxpayer assistance and for improvement and efficiency in tax control.

The SII basically consists of the electronic provision of billing records, which are part of the VAT Registration Books. To do this, the details on invoicing must be sent to the AEAT electronically (through web services based on the exchange of XML messages, or, where appropriate, through the use of a web form), with which information will be configured, practically in real time, the different Record Books. But it is not a question of sending the specific invoices of the taxpayers.

In the case of simplified invoices, issued or received, they can be grouped, provided they meet certain requirements, and send the billing records of the corresponding summary entry.

The group that has been compulsorily included in the "SII" is made up of all those taxpayers whose obligation to self-assess the Value Added Tax is monthly:

• Large Companies (turnover of more than €6 million)
• VAT groups
• Registered in the REDEME (Monthly VAT Refund Registry)