What’s the SII in Spain?
The system of Immediate Supply of Information (SII), is the new model developed by the Tax Office (AT) for the electronic handling of VAT books submission. The new reporting system requires an electronic presentation in XML format of the details of invoices issued and received within a maximum period of 4 calendar days (exceptionally 8 days in 2017), including simplified invoices (tickets).
Is my company in Scope of SII?
The new SII is mandatory and applicable to taxable persons who are currently obliged to self-assess monthly VAT, among which are identified:
- Large companies (whose annual turnover exceeds € 6,010,121.04)
- Corporate groups for VAT purposes
- Companies that decide to join this new VAT management model voluntarily
About 62000 Taxpayers will be affected by the SII.
When’s the starting date for the SII?
SII becomes mandatory as of July 1, 2017.
Information related to the 1st half of 2017 must be sent to the AEAT until 31 December 2017. Companies registered on the Redeme regime (VAT “monthly refund special regime”) do not need to report the 1st half of 2017.
What happens if I am not prepared for the SII?
Penalties for late presentation of SII and Mistakes on the submission start on 0.5% of the invoice amount up to 6000 Eur per Quarter.
Audits might be triggered by the Tax Office as the various SII submissions will be cross checked between Business Partners.
What can I do to get ready for SII?
First of all the ERP system must be evaluated in order to understand how the invoicing is processed.
Second a mapping between the ERP system and the SII requirements has to be done.
Third a solution based on the ERP system has to be implemented that captures the date regarding the invoicing and transforms it into the XML Schema, validates the information and communicates with the Tax Office (AT).
Forth all communications from the Tax Office are received and stored creating an Audit Track.
Is my company too late?
No! Contact Tytho and learn about our SII solution.