The “Veri*factu” Regulation, outlining requirements for software supporting billing processes of businesses and professionals.

Summary of the “Veri*factu” Regulation – Real Decreto 1007/2023.

The recently published Real Decreto 1007/2023, issued on December 6, 2023, introduces the “Veri*factu” Regulation, outlining requirements for software supporting billing processes of businesses and professionals. Derived from the amendment to Article 29.2.j) of the General Tax Law, this regulation aims to ensure the integrity, preservation, accessibility, legibility, traceability, and non-alteration of electronic billing records.

Key Points:

Purpose: Combatting tax fraud and improving digitalization, the regulation, colloquially known as “Reglamento Veri*factu,” focuses on preventing dual-use software for concealing sales, ensuring the authenticity and security of billing records.

Format and Structure: The regulation defines a standardized format for billing records, incorporating security elements such as chained hashes and electronic signatures to prevent post-production modifications.

Submission Process: Entrepreneurs are encouraged to comply with the regulation by submitting billing records to the Tax Agency’s electronic platform (“Veri*factu”) at the time of production, enhancing efficiency and compliance.

Applicability: Mandatory for all businesses, excluding those under Immediate Supply of Information (SII) or without invoicing obligations. It applies nationwide except in territories with fiscal autonomy.

Territorial Exceptions: Territories with fiscal autonomy, like Vizcaya, Guipúzcoa, and Álava, already implement similar systems such as ‘Ticket Bai.’

Benefits for Clients: Clients can verify the fiscal compliance of received simplified invoices by checking the Tax Agency’s website.

Implementation Timeline: Businesses and freelancers must adapt by July 1, 2025. Financial support from the Digitalization Plan is available for necessary software modifications.

Next Steps: A ministerial order for technical development will follow, and software developers must adhere to its provisions within nine months. Products must include a “declaration of compliance” with the regulation.

Compatibility: The regulation aligns with the ongoing B2B electronic invoicing regulation project, ensuring comprehensive adaptation to both sets of modifications using a unified data model.

This summary provides an overview of the “Veri*factu” Regulation, emphasizing its objectives, requirements, and implications for businesses and developers in the Spanish tax system.

Our commitment aligns with the European Union’s vision of economic sustainability, and we trust you will feel supported by our ongoing efforts to keep you at the forefront of the latest regulations and technological trends.

We appreciate your trust in EBF Consulting and look forward to continuing to be your strategic partner in this era of digital transformation.

To obtain further information and learn how EBF Consulting can assist your company with Veri*factu, please do not hesitate to contact us through our contact form. We will promptly get in touch with you.