Verifactu is an electronic invoice verification system developed by the Spanish Tax Agency (AEAT). Its primary purpose is to combat tax fraud and promote the digitalization of accounting processes in Spain. It ensures the reliability and immutability of invoices issued by companies and freelancers.
Core Objectives:
- Combat Tax Fraud: Verifactu aims to eliminate practices like “dual-use software” or “sales concealment software” that enable undeclared transactions.
- Promote Digitalization: It encourages businesses to adopt electronic invoicing and management systems.
- Increase Transparency: By ensuring the integrity and traceability of invoice records, it provides greater transparency in commercial transactions.
Key Features and Requirements for Invoicing Software:
- Integrity and Immutability: Systems must ensure that invoice records cannot be modified after their creation without a clear record of the modification. This is often achieved through electronic signatures and chained hashes.
- Traceability: Each issued invoice must generate an immediate record, facilitating its traceability.
- Automatic and Secure Transmission (Optional but Recommended): Invoicing software can be configured to automatically and securely transmit invoice records to the AEAT in real-time or near real-time. This is the “Verifactu” system’s preferred mode of operation.
- QR Code: Verifactu invoices must include a QR code containing specific data that allows recipients to verify the invoice’s authenticity directly with the AEAT.
- “VERI*FACTU” Reference: Invoices generated by a Verifactu-compliant system must include a reference indicating that they have been issued using a verifiable system, often the “VERI*FACTU” label.
- Cancellation Mechanism: There must be a mechanism to cancel erroneous invoices, with a new record generated that links to the original.
- XML Format: Information is typically sent to the Tax Agency in XML format.
Who is Affected and When it Comes into Effect:
- Mandatory for most businesses and self-employed: If you use invoicing software in Spain, it will need to be Verifactu-compliant.
- Exemptions:
- Businesses that exclusively issue invoices manually (without software).
- Companies already subject to the Immediate Supply of Information (SII) system, as SII already meets the control requirements.
- Taxpayers in the Basque Country and Navarre, due to their own specific tax control systems (like TicketBAI).
- Implementation Dates:
- January 1, 2026: Mandatory for companies subject to Corporate Tax.
- July 1, 2026: Obligation extends to self-employed individuals and other taxpayers (Personal Income Tax, direct estimation).
Benefits of Verifactu:
- For Businesses:
- Enhanced trust among customers and consumers.
- Increased security and transparency in transactions.
- Simplified compliance with tax obligations.
- More efficient accounting and reduced costs through automation.
- Clear records for audits.
- For the Tax Agency:
- Reduced tax fraud and evasion.
- Up-to-date VAT records.
- Improved assistance services for taxpayers.
In essence, Verifactu is a significant step towards greater digitalization and control in Spain’s invoicing landscape, aiming to create a more transparent and fraud-resistant tax environment.
How to implelement Veri*Factu in SAP. Check our product page.