What You Need to Know About Veri*Factu Requirements for Invoicing Systems

Key Aspects to Comply with the New Invoicing System Requirements

On the 6th of December of 2023, Royal Decree 1007/2023, of December 5th was published in the Official State Gazette (BOE). The aforementioned Royal Decree approves the Regulation that establishes the requirements to be adopted by the computer or electronic systems and programs that support the invoicing processes of businesses and professionals, as well as the standardization of invoicing record formats. This regulation is also known as “Veri*Factu Regulation”.

It is important to keep in mind that the requirements established in the above mentioned regulation are intended to guarantee the integrity, preservation, accessibility, readability, traceability and immutability of invoicing records ensuring that they stay free from interpolations, omissions or subsequent alteration, allowing the simultaneous or later transmission of the information to the Tax Administration.

The regulation was subject to the approval of the Ministerial Order of Veri*Factu, Order HAC/1177/2024, of the 17th of October, which entered into force on the 29th of October of 2024, and which develops the technical, functional and content specifications of the invoicing systems or software.

WHO IS IT ADDRESSED TO? 

According to article 3 of the mentioned regulation it will apply to the following taxpayers:

• Corporation Taxpayers, excluding exempt entities. For partially exempt entities , the obligation applies exclusively to transactions that generate income subject to tax and not exempt.
• Personal Income Tax (PIT) payers who carry out economic activities.
• Non-Resident Income Taxpayers who obtain income through a permanent establishment.
• Entities under the income attribution regime engaged in economic activities, without prejudice of the attribution of yields that must be made to their members.
• Producers and marketers of computer systems.

EXCEPTIONS: 

This Regulation shall not apply to taxpayers who keep their books through the Immediate VAT Information Submission System (SII).

It should be noted that, through the SII, these taxpayers are already submitting their VAT registration books through the electronic platform, complying with their obligation of electronic communication. On the other hand, this regulation requires Computerized Invoicing Systems to record, with certain security and control measures, specific information on issued invoices, which may optionally be sent to the Tax Agency. Therefore, the subjective scope of both projects is mutually exclusive, meaning that those who comply with the SII do not have to comply with the Regulation that establishes the requirements for computerized invoicing systems, and vice versa.

How are Veri*Factu invoices issued in accordance with the new IT system requirements identified?

• A “QR” code must be included, with a size ranging from 30 x 30 to 40 x 40 millimeters, following the specifications of the ISO/IEC 18004 standard. The content of the QR code must include the URL of the verification or information submission service, along with invoice details such as the issuer's VAT number, serial number, date of issue and total amount.
• Issued invoices must include the phrase "Invoice verifiable at the AEAT electronic officeI" or "VERI*FACTU."

EFFECTIVE DATE

With the publication of this Ministerial Order, the deadlines for the effective implementation of the measures introduced in the Veri*Factu Regulation are as follows:

• Taxpayers using computerized invoicing systems (companies, entrepreneurs, professionals, etc.) and who are not part of the SII must have operational systems adapted to the characteristics and requirements established in the regulation and its implementing legislation by the 1st of July of 2025.
• Producers and marketers of invoicing systems and software must comply by the 29th of July of 2025. However, for information systems included in multi-year maintenance contracts signed before the latter deadline, they must be adapted to the regulation's requirements before the 1st of July of 2025.
• State Tax Administration Agency must have available on its electronic office the service for reception of the invoicing records sent by the "Verifiable Invoice Issuance Systems" by the 1st of July of 2025. 

It is important to point out that, according to the dates specified in RD 1007/2023, the entry into force for all those obliged parties is set for the 1st of July of, 2025. This means that developers must have their computer systems adapted before this date. For this reason, the First Vice Presidency and the Ministry of Finance have published a document for public consultation regarding the Fourth Final Provision related to its entry into force and effects, proposing to delay the regulation until the 1st of January of 2026.

Finally, from Baker Tilly, we would like to encourage all those who may be affected by the changes introduced by the regulation to get in touch with their main software or invoicing programs providers to ensure they can offer a system or program that meets the required regulatory standards. Each computer system must have a mandatory declaration of responsibility, issued by the person or entity that produced it, certifying that it complies with the requirements of the regulations in force.