What is an electronic invoice and when is it mandatory?
An electronic invoice is a digital document that meets the same legal requirements as a paper invoice, but is issued and received in electronic format. To be considered valid, it must guarantee the authenticity of its origin and the integrity of its content, which is achieved through the use of advanced electronic signatures or electronic data interchange (EDI) systems.
Electronic invoice formats
There are several standard formats for issuing electronic invoices in Spain, including the following:
- E Invoice: This is the most widely used format in relations with the Public Administrations.
- UBL (Universal Business Language): A standard language based on XML that facilitates integration with ERP systems.
- EDIFACT: An international standard for the exchange of electronic data in business environments.
- CEFACT: Based on HTML language, this is another of the recognised formats for electronic invoicing.
The choice of format will depend on the specific needs of the company and the requirements of its business partners.
Mandatory nature of electronic invoicing
Law 18/2022, of 28 September, on the Creation and Growth of Companies, establishes that electronic invoicing is mandatory in commercial relations between entrepreneurs and professionals. This measure aims to reduce late payment and increase transparency in commercial transactions.
The deadlines for its implementation are as follows:
- Companies with an annual turnover of over 8 million euros: They will have one year from the publication of the regulatory development to adapt to electronic invoicing.
- Companies and self-employed workers with a turnover of less than 8 million euros: They will have two years from the publication of the regulation to implement electronic invoicing in their operations.
It is important to note that, although the Law, the mandatory nature of electronic invoicing is subject to the approval of its regulatory development, which is currently underway. Therefore, the exact dates on which it will become mandatory will depend on the publication of said regulation.
Advantages of electronic invoicing
The adoption of electronic invoicing offers multiple benefits for companies and professionals:
- Cost reduction: Eliminates expenses associated with printing and sending paper invoices.
- Administrative efficiency: It facilitates document management and storage, streamlining accounting and financial processes.
- Transparency and control: Improves the traceability of operations and contributes to greater fiscal control.
- Sustainability: It reduces the use of paper, contributing to environmental protection.
The implementation of electronic invoicing represents a significant step towards the digitalisation and modernisation of companies in Spain. In addition to complying with legal obligations, its adoption provides competitive advantages that improve the efficiency and sustainability of business operations.
| Ley 18 2022 Creación y crecimiento de empresas | 480 KB |
