From September, companies are obliged to issue electronic invoices
- 11 April 2023
- Business Consultancy
Last October, the "Crea y Crece" Law came into force, which aims to promote business creation and growth through the adoption of several measures. It is important to remember one of them.
The obligation to issue electronic invoices has been introduced
All entrepreneurs and professionals will be obliged to issue, send and receive electronic invoices in their commercial relations with other entrepreneurs and professionals.
The Government defends the initiative as a "measure to digitalise business relations, reduce transaction costs and facilitate transparency in commercial transactions", while presenting it as a "key lever for effectively tackling late payments in commercial transactions". Electronic invoicing is already relatively widespread in sectors such as mass consumption, the automotive industry, travel agencies and Horeca (hotels, restaurants and caterers), but the universalisation of its use will mean going from 296 million electronic invoices in 2021 to close to 1 billion in 2025.
What specific requirements will have to be applied?
- Both the technological solutions and platforms offered by supplier companies and those that are the company's own must offer interconnection and interoperability free of charge.
- Copies of invoices may be requested during the four years following their issue.
- The invoice recipient will not be able to oblige the issuer to formulate the invoice in a predetermined way.
What is the adaptation period for companies?
- For companies with an annual turnover of more than eight million euros, the adaptation period will be one year: 30.09.2023.
- For the rest of entrepreneurs and professionals, it will take effect two years after the approval of the development of this law: 30.09.2024.
