eng-sistaxsii

IMMEDIATE SUPPLY OF INFORMATION SII (for business in Spain)

WHAT IS SII?

With the recently introduced modifications in VAT Regulations this new Value Added Tax management system is based on keeping a Tax Record on the AEAT online system, by providing all billing records virtually immediately.

The “Immediate Supply of Information” (SII) represents a substantial improvement in communications between the Tax Agency and the taxpayer, since it will enable them to have an instantaneous, two-way, automated relationship. Furthermore, it is a new and innovative tool, both to assist the taxpayer and to improve the efficiency of tax checks.

The SII basically consists of electronically transmitting billing records from VAT Books. To do this, the taxpayer must send the Tax Agency billing details electronically (using web services based on exchanging XML messages or, if applicable, by filling out the online form) and using this information the different Record Books will be configured, practically in real time. But taxpayers are not required to send the actual bills.

WHO HAS TO?

In the case of simplified bills, issued and received, these may be grouped, provided they meet certain requirements, and the billing records for the corresponding summary entry sent.

The collective that will be subject to compulsory use of the SII is made of taxpayers who are subject to self-assessment of VAT on a monthly basis:

  • Large Businesses (turnover of over 6 million euros)
  • VAT Groups
  • Registered with REDEME (Monthly VAT Return Registry)

This collective currently has developed software systems that can be adapted to comply with billing record sending within a four-day period (excluding Saturdays, Sundays and national holidays).

in addition, any other taxpayer wishing to voluntarily apply SII may do so. This option shall mean that the taxpayers’ self-assessment obligation shall become monthly and they must stay in the system for at least one calendar year in order to exercise the option. The option to adopt SII must be undertaken during the month of November, before the start of the calendar year in which it should come into effect. The option to adopt it for the fiscal year 2017 should be undertaken during the month of June of this year.

WHEN COMES INTO FORCE?

This Immediate Supply of Information (SII) system has entered into force on 1 July 2017.

WHAT ADVANTAGES IT HAS?

  • Quality information shall be made available in a sufficiently short time frame so as to improve the VAT management system.
  • “Fiscal Information” shall be obtained, since the taxpayer shall avail of a “filed” and a “compared” Record Book on the Tax Agency online system, with all the information from third parties within the collective or the Tax Agency database..
  • Taxpayers will be able to compare this information before the end of the monthly VAT return term..
  • The taxpayer will be able to correct any error committed in filed returns without needing to be required to do so by the Tax Agency..
  • Decrease in information requirements by the Tax Agency, since many of the current requirements are aimed at requesting records, invoices or data contained therein in order to check certain transactions
  • It modernises and standardises the method of keeping traditional VAT Record Books.
  • Reduction of formal obligations, removing the obligation to file forms 347, 340 and 390.
  • Reduction in terms for filing VAT returns, since the Tax Agency has the information on transactions in almost real time and in greater detail.
  • Taxpayers included in the new system will have the declaration and payment of periodical VAT self-assessments periods extended by 10 days.

WHAT CAN I DO?

Sistec has created a software, SISTAX SIi, who will help you to providing all billing records to the Tax Agency (AEAT)
using web services based on exchanging XML messages.

WHERE AND HOW?

If you are insterested, call us +34 94 600 50 20 or send an e-mail to
sap@sistects.es

WHAT WE OFFERED?

    Included..

  • *Technical assistance.
  • * Software-update
  • * For SAP Business One
  • *Directly connection to the tax Agency .
  • * Immediate response
  • * Correction of any error
  • * TIN Validation

NEEDED SUPPORT

SAP Business One software is needed, because SistaxSII is an Add-on for SAP.

INSTALLATION

Easily, we send you a link where you will find there a download file. Then, you may install it in your system. That’s all!

Furthermore, is included an a instruction guide (for the moment is in spanish).

Tax office