Modify to improve. Recently, Royal Decree 1512/2018 was published in Spain, changing the Effective Value Added Tax Regulation as of January 1, 2019, as well as the Regulation that determines the billing obligations.
In this way, the State Agency of the Tax Administration in Spain has been updated through the Immediate Supply of Information. Through its electronic headquarters, it incorporated some changes to Tax Regulation to facilitate the voluntary option of a new tax management system. This change occurred due to the Immediate Supply of Information (SII), once the first phase has been completed, the new system for bookkeeping the Value Added Tax will be complete.
With respect to SII and normative modifications, the taxpayers who decided to take advantage of SII during the year, must communicate their decision in the month of November, prior to the beginning of the calendar year in which the law is to take effect. For that reason, the information that must be submitted by taxpayers regarding operations in the calendar year prior to the date set by SII has also been regulated.