The Inland Revenue of Spain has launched a modernization strategy in the management of Value Added Tax which will expedite returns, provide the taxpayer with the tax data for your return and tax audit practice more agile and effective.
The new system for Immediate Delivery Information (SII) will come into force on January 1, 2017, so that there is sufficient temporal scope for policy changes needed to adapt the computer systems of the Inland Revenue and facilitate the adaptation of taxpayers. It will only be required for a group of about 62,000 taxpayers, formed by large companies, corporate groups and registered for VAT in the monthly return rate of tax (‘REDEME’); group, however, represents 80% of total turnover of VAT taxable in Spain. The rest may benefit voluntarily, if they wish, give the system at the end of each year.
