According to a recent announcement, the Spanish tax authorities (STA) plan to introduce a real time VAT-reporting system as from 2017.

The new system requires large taxpayers to provide the STA with information about the invoices they issue and receive.

But what means “large taxpayers”? The current definition includes business with a yearly turnover exceeding EUR 6 Million as well as VAT groups and businesses using the monthly Spanish VAT refund regime (REDEME). Read More »