On 6 December 2023, the Spanish Ministry of Finance published the approval of the Royal Decree 1007/2023, dated on 5 December establishing the Regulation that establishes the requirements to be adopted by the electronic systems that support the invoicing processes of entrepreneurs and professionals, and the standardization of invoicing record formats (the “RD 1007/2023”, or, the “RD Verifactu”) and the draft Order developing the technical and functional specification referred in RD Verifactu (the “Draft Or­der”). To­geth­er, these two documents and the other annexes and criteria published by the Spanish Tax Authorities in its website constitute the so-called “Verifactu Project”.

Exploring the complex landscape of e-invoicing and e-reporting reforms in Europe can be a challenging task. A team of CMS Tax experts working closely on the subject has provided an overview of the implementation timelines, the scope of application (video #1), the practicalities and the e-invoice and/or e-reporting formats (video #2) accepted in three key European jurisdictions: France, Italy and Spain. Their collective expertise provides a comprehensive view of the subject and ensures that viewers interested in learning more about the nuances and practical implications of the reforms can reach out to obtain further insight if needed. This video can be used by tax professionals, business leaders and anyone interested in the e-invoicing and e-reporting reforms to identify potential issues and reach out to their CMS contact to obtain guidance and clarity amidst the local legal and regulatory complexities.