• Another way of doing consulting.

Start » Emiral » Veri*factu: the new billing system that will affect companies and professionals

verifactu billing system professional companies

Veri*factu: the new billing system that will affect companies and professionals

Although we have been talking about electronic invoices for a long time, the truth is that this obligation is getting closer and closer, so it is advisable to know what the legislation states in this regard. The novelty arrived at the end of the year, specifically through Royal Decree 1007/2023, of December 5, published in the BOE on December 6. The main objective is to fight against tax fraud and achieve greater transparency in billing.

What is the Veri*factu Regulation

Veri*factu is a system that has been created by the Tax Agency, not only to fight fraud, but also to speed up the automation of taxation in companies. This system will be mandatory for all those companies that already use computer systems for digitalization. Veri*factu refers to the simplest and most efficient modality, which is planned to comply with the standard, by sending the billing records to the electronic headquarters of the Tax Agency at the time of their production.
This system affects all companies equally, regardless of their size, whether they are subject to personal income tax or corporation tax, which is why it is so important to stay informed about it. The companies that are exempt are those subject to the Immediate Supply of Information (SII) or those that do not have a billing obligation. As regards the territorial scope, it is applicable throughout Spain except in the territories of the regional tax regime. The reason is because in Vizcaya, Guipúzcoa and Álava, the systems called 'Ticket Bai', whose operation is analogous to the one approved now. 

When does it come into force

Answering the question of when it will come into force, the truth is that for now we must wait for the final approval of the Ministerial Order that develops Regulation 1007/2023 of the Anti-Fraud Law. Once approved, an adaptation period will be determined.

The important thing is that the companies in charge of developing or marketing software must submit to its provisions within a maximum period of 9 months, according to the Tax agency.

Veri*factu Features

Veri*factu must contain the following elements:

  • QR code with identifying data.
  • Sending information to the Treasury. It must be able to be sent to the Tax Agency through a QR reading device.
  • Record. You have to be able to keep a record of each invoice.
  • Verified invoices. The Veri*factu designation must appear to confirm that it has been generated through a verifiable invoice issuance system. 

Advantages of the Veri*factu system

Among the main advantages we can highlight the following:

  • Transmits confidence. It is a way to verify that they are invoices that comply with the Tax Agency, so the company is aware of its obligations.
  • Saving time and costs with automation. This automation leads to cost and time savings.
  • Facilitates accounting work. By keeping an automated record, accounting tasks are significantly facilitated and, more importantly, reliability is gained because the margins of error are smaller.

How Emiral can help you

At Emiral we have a senior team specialized in electronic invoicing. We have various solutions, including B2Brouter


Image of the Tax Agency

Header photo: Mclean on Unsplash

Do you need to integrate electronic invoices into your company?
We help you!

In Emiral We know how much your company is worth, whether it is small, medium or large. For this reason, we want to offer you the best ERP management solutions so that your business continues to grow.

Latest related posts