B2B Electronic Invoicing vs. VeriFactu: Understanding the Key Differences
Tax digitalization in Spain is advancing rapidly, often creating some confusion among freelancers (sole traders) and SMEs. Two terms that resonate strongly are "B2B Electronic Invoicing" and "VeriFactu". Although both aim to modernize tax management, their objectives, scopes, and mechanisms are distinct. As tax experts for your business, we help you break down these regulations so you are prepared.
What is B2B Electronic Invoicing (Crea y Crece Law)?
B2B Electronic Invoicing falls under Law 18/2022, on the Creation and Growth of Companies (Crea y Crece Law). Its main objective is to promote the digitalization of commercial relationships between businesses and professionals. This law establishes the obligation for all transactions between businesses and professionals (B2B) to be carried out using electronic invoices.
The key here is the exchange between parties. The invoice must be generated, transmitted, and received electronically, using standardized formats and through private exchange platforms or the public solution that the Administration will enable. It seeks to reduce late payments, improve efficiency, and enhance the traceability of commercial operations.
What is VeriFactu (Anti-Fraud Law)?
On the other hand, VeriFactu (Verifiable Invoicing System) is the popular name for the system stemming from Royal Decree 1007/2023, the Anti-Fraud Law. Its fundamental purpose is to combat tax fraud, ensuring the integrity, preservation, accessibility, and traceability of invoicing records for companies and freelancers.
VeriFactu requires invoicing software programs to comply with specific technical requirements. Each time an invoice is issued, the software must generate a record that is automatically sent (or with very short periodicity) to the Tax Agency (AEAT). This ensures that the AEAT has knowledge of all sales operations, whether B2B or B2C, in near real-time. The focus is on software certification and the submission of information to the AEAT.
Key Differences Between Both Regulations
To understand it better, let's look at the fundamental distinctions:
* Legal Origin: B2B Electronic Invoicing comes from the Crea y Crece Law. VeriFactu, from the Anti-Fraud Law.
* Main Objective: B2B Electronic Invoicing seeks to digitalize commercial exchange and reduce late payments. VeriFactu seeks tax control and the fight against fraud.
* Scope of Application: B2B Electronic Invoicing applies to transactions between businesses and professionals (B2B). VeriFactu applies to all invoices issued by a business (B2B and B2C).
* Mechanism: B2B Electronic Invoicing requires an electronic format and means of exchange between the parties. VeriFactu requires certified software that guarantees the immutability of records and their submission to the AEAT.
* Main Recipient: In B2B Electronic Invoicing, the recipient is the client (another business/professional). In VeriFactu, the recipient of the information is the Tax Agency.
Deadlines and Preparation: No Time to Lose
It is crucial to understand that both regulations are complementary and that invoicing software adapted to VeriFactu will be indispensable to comply with both. The deadlines for VeriFactu are imminent:
* January 1, 2027: Deadline for companies and legal entities.
* July 1, 2027: Mandatory deadline for freelancers and micro-SMEs.
Find out when VeriFactu is mandatory for your business and start preparing.
To comply, your software must be adapted. This implies an ERP VeriFactu integration or the use of a VeriFactu gateway for existing software. Many wonder how to import Factusol to VeriFactu, import Sage 50, or import Holded, or even how to import Excel to VeriFactu. The key will be your software provider's ability to offer a robust and certified VeriFactu API that meets the technical requirements. Freelancers and VeriFactu must pay special attention to these changes.
At Fakturia.es, we understand the complexity of these changes. That's why our invoicing software is designed to adapt to VeriFactu and the Anti-Fraud Law, ensuring your business complies with all tax obligations without complications.