VAT Bulletin 2-2012
ROYAL DECREE 1619/2012, OF NOVEMBER 30, 2012, APPROVING THE REGULATIONS ON INVOICING OBLIGATIONS
As we discussed in our previous bulletins, the new regulations on invoicing obligations were finally published in the Official State Gazette of December 1, 2012. These regulations, which replace the current regulations approved by Royal Decree 1496/2003, will take effect on January 1, 2013.
As many of the provisions included in these new regulations remain the same as those currently in effect, we will confine our comments to the main new features of the regulations.
1. APPLICABLE INVOICING RULES
2. OBLIGATION TO ISSUE INVOICES AND INVOICING BY THIRD PARTIES
3. ELIMINATION OF RECEIPTS: THE SIMPLIFIED INVOICE
4. ELECTRONIC INVOICING
5. PERIOD FOR ISSUING INVOICES
6. STORAGE OF INVOICES
7. SIMPLIFIED INVOICES REPLACED WITH OR EXCHANGED FOR INVOICES
8. DOCUMENTATION OBLIGATIONS
9. TRANSITIONAL SYSTEM FOR AUTHORIZATIONS ALREADY GRANTED
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