The new year begins with important changes that companies should be aware of in order to adapt their business management software and, consequently, avoid non-compliance with regulations, which could have negative consequences. We are referring to the new validations in the Immediate Supply of Information (SII), which came into force on January 1, 2021; the consequences of the United Kingdom’s exit from the European Union for commercial exchange; and the entry into force of SILICIE, for the electronic accounting of products subject to excise taxes.
Changes in tax rates on goods traffic between the EU and the UK.
One of the momentous changes coming with this new year has to do with the United Kingdom’s departure from the European Union. Broadly speaking, as we already announced in the article How Brexit affects the configuration of Microsoft 365 Dynamics D365FO and AX 2012, purchases of goods and services from the United Kingdom, which were considered as intracommunity shipments and acquisitions, are now considered as exports and imports, as is the case with other countries that are not in the European Union. This change affects the configuration of the tax rates applied to goods transported between Spain and the United Kingdom:
- Imports: For goods entering Spain from the United Kingdom, the taxable amount for VAT is the customs value plus the following items: taxes, duties, levies and other charges due on import, except for VAT; and secondly, ancillary costs (commissions and packaging, transport and insurance costs incurred up to the first destination of the goods).
- Exports: goods transported from Spain to the United Kingdom are exports and are therefore exempt from VAT.
It should also be noted that commercial transactions with the United Kingdom, whether purchase or sale of goods or provision of services, will not be reflected in the recapitulative declaration of intra-Community transactions (Mod 349 of the Tax Agency in spanish).
Those companies that have a business management software to manage their commercial operations have to confirm that their ERPs are indeed updated so that the United Kingdom is out of the operations carried out with countries of the European Union.
Immediate Provision of Information Validations
As we already announced in November, as of January 1, 2021, companies that are obliged to carry out an electronic VAT management must have updated their business management software with the new validations and errors. The objective of these new features, according to the Tax Agency, is to improve the quality of the information provided and to make the procedures even more efficient. The article New validations in the SII details these new features that require the updating of the accounting modules of the companies.
SILICIE comes into force for the electronic accounting of Excise Duties
Another of the changes that will affect several business sectors is the entry into force of SILICIE (System for the Immediate Supply of Accounting Information Books on Excise Duties by its Spanish acronym) a new system for keeping the accounts of products that are subject to special taxes on manufacturing, which has been implemented by the Tax Agency.
The establishments that are obliged to use the electronic headquarters of the Tax Agency are the following:
- Tax deposits
- Bonded warehouses
- Receiving tanks
- Vinegar factories
Although this new system came into effect in January 2020, due to the pandemic the AEAT has given an extension, so that the companies that are obliged to adapt gradually to the new system. However, all these companies already operating in 2020 must have submitted last year’s accounting entries in SILICIE format by January 15, 2021.
Together with the Immediate Supply of Information, SILICIE is another step forward by the Tax Office in its firm commitment to digitalization. And it is a warning to companies that still have their accounting records in the traditional way to make them aware of the importance of the digital transformation. Perhaps this 2021 will be a good time for this.
At Emiral we know how much your company is worth, whether it is small, medium or large. Therefore, we want to offer you the best ERP management solutions to keep your business growing.
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