Verifactu: When does it come into effect and what will change for invoicing software?

Camille Mendonça, Fiscalization Expert Spain
Camille Mendonça
Fiscalization Expert Spain
5 min read

With the Anti-Fraud Law and the upcoming entry into force of the Verifactu systems regulations, companies, and self-employed professionals will need to prepare to adapt their management, billing, and accounting systems to comply with the requirements of the Tax Agency.

However, the responsibility for complying with this regulation does not only fall on taxpayers; developers and software providers will be the first to comply and also face significant fines if their clients' IT systems do not meet these requirements.

Do you know what will change with the approval of the Verifactu regulations and how to meet the requirements as a software provider? In this article, we explore everything you need to know to navigate this regulatory change and how tools like SIGN ES can facilitate the adaptation process for software providers.

Verifactu: a guide for software developers and vendors

Verifactu is the common name adopted by the regulation, part of the Anti-Fraud Law in Spain, aimed at preventing invoice manipulation and ensuring their traceability. This regulation requires all invoicing software to have advanced technical features to prevent tax fraud.

When will Verifactu come into effect for software developers?

We are currently awaiting the approval of the Verifactu Ministerial Order, but its implementation seems imminent. Once published in the BOE, a 9-month period will commence for software development and distribution companies to adapt their systems to the technical requirements of the law on a mandatory basis. Considering this Verifactu implementation timeline, it is essential to start planning and find an easy-to-integrate solution into your systems to ensure a smooth transition.

What changes does Verifactu imply for invoicing software?

Verifactu introduces significant technical requirements for invoicing software when recording transactions for submission to the tax authorities. All invoicing records must now be sent to the Tax Agency, ensuring their integrity and authenticity through electronic signatures and data chaining. In addition, invoices must include a QR code provided by the Tax Agency to validate their accuracy. These requirements not only ensure transparency but also reduce the risk of human error and raise the security standard in transactions.

The main functionalities that any software capable of generating invoices must allow are:

  1. Issuance of verifiable invoices: invoicing systems must be able to issue billing records with the structure required by the Tax Office.
  2. Real-time transmission: systems must be capable of sending billing records to the Tax Agency at the time of issuance, thus ensuring transparency and immediacy in communication.
  3. Electronic signature: the software must be able to digitally sign transactions, guaranteeing the integrity and authenticity of each operation carried out.
  4. Hash or data chaining: programs must include hash mechanisms to help protect data against unauthorized alterations, reaffirming the security of the recorded content.
  5. QR code: all invoices must carry a QR code that allows for quick and easy verification of their authenticity with the Tax Agency.
  6. Compatibility with different regulations: Verifactu will not be the only regulation that will entail changes in billing systems in an increasingly digitalized context. It is essential that the software is adaptable and compatible with future regulatory updates, as well as with regulations such as TicketBAI in the Basque Country, or the Crea and Crece Law and its mandatory B2B electronic invoicing.
  7. Audit possibility: systems must provide tools for secure record archiving and storage, as well as the ability to send these records to the Tax Agency in the event of an audit.

What penalties do software developers and vendors face for non-compliance?

The penalties for failing to meet the technical requirements of Verifactu are severe. Companies using non-compliant software may face fines of up to €50,000, while developers offering outdated software could face penalties of up to €150,000 per client and fiscal year. These penalties highlight the importance of compliance and the urgent need to adapt systems to avoid significant costs. It is not only about implementing a solution that meets the initial requirements dictated by the regulations but also about being able to keep the software consistently updated in line with the constant updates required by the Tax Agency.

How to start the transition to comply with Verifactu?

While complying with the Anti-Fraud Law and Verifactu regulations may seem challenging, here are some steps to help you plan your adaptation options and begin the transition:

  1. Familiarize yourself with the regulations: understand their implications for your company and your clients, and identify whom they will affect.
  2. Seek expert advice: you will need knowledge not only of software development and API integrations but also legal expertise. Look for experts who can clarify your doubts and ensure you always comply with the regulations. At fiskaly, we can assist you and evaluate your case. Contact us here. 3. Verify the functionalities: knowing the new requirements and functionalities that each software must integrate will help you understand the resources needed to adapt your systems.
  3. Plan ahead: starting the transition process as soon as possible will allow you to conduct tests and ensure you meet all the requirements correctly. At fiskaly, we offer open documentation of our API so you can test it even before signing any contract.
  4. Assess adaptation options: choose the option that best suits your business model and that of your clients, and begin integrating it. A Verifactu API can be an ideal option if you do not wish to change your software or invest your development resources in keeping it constantly updated to avoid sanctions.

SIGN ES: the Verifactu API for easily adapting your software

For those looking to comply with Verifactu without complications, SIGN ES offers an effective solution. Our Verifactu API provides a straightforward integration that ensures full compliance with various tax regulations in Spain, including Verifactu and TicketBAI, as well as compliance with upcoming tax legislation in Navarre and the mandatory B2B electronic invoice requirements of the Crea y Crece Law. Without the need to overhaul your entire system, SIGN ES makes adaptation easy and keeps you and your clients covered against any regulatory changes, avoiding potential penalties.

Benefits of SIGN ES for developers

SIGN ES not only ensures compliance but also offers multiple benefits for developers, billing software providers, and ISVs. It provides automatic updates, specialized technical support, and a simple integration that reduces the time and resources needed to adapt to new regulations. Furthermore, by covering multiple tax legislations with a single implementation, SIGN ES simplifies the management of complex regulations, offering peace of mind to developers.

The implementation of Verifactu will represent a significant change in the country's business landscape, as well as in the business models of developers and software providers. With fiskaly, you're covered with our SIGN ES solution and the Verifactu API.

If you need to assess how to adapt your software or have questions about the regulations, feel free to contact our team, who can advise you without obligation about the regulations.

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