The new ministerial order on the “create and grow law” was published on October 28th and is generating a lot of information in the networks and business channels, transmitting fear and concern to companies and therefore to tax advisors. We are going to explain in a simple way why this new regulation does not mean any inconvenience for the self-employed and SMEs. .

This regulation is a challenge for billing software that even though they have known for decades the need to transfer the information and management to the cloud, they have not done it. 

In fact, for cloud software, adapting to the new regulations and offering compliance to customers is not a problem. For this reason, the Portals Advisor y Company Bilky's solutions comply with Verifactu, allowing consultancies and companies to invoice in a simple and agile way, adapting to the changes introduced by the administration

What is Verifactu?

Verifactu is a electronic invoice validation system promoted by the Spanish Tax Agency (Agencia Tributaria), designed to combat tax fraud and promote digitalization in corporate accounting. This system, known as Verifactu or VeriFactu, ensures that invoices issued by companies and freelancers are secure and difficult to alter.

Who is really affected?

Although Verifactu directly affects companies and freelancers in Spain, this new regulation really applies to billing software companies, which are the ones that have to offer a tool to their customers adapted to the new regulations.

Will Bilky comply with Verifactu?

Yes, by using Bilky, all consultants and their clients can rest assured that they will be compliant with Verifactu and also with e-Invoice (when mandatory).

Differences between Verifactu and E-Invoice

The main objective of Verifactu is to ensure that information is sent securely to the Tax Agency and to guarantee the protection of IT systems. Meanwhile, the Ministry of Economy promotes electronic invoicing so that the different electronic invoicing systems can be interoperable and delinquency can be controlled, including information on payments made.

In addition, the State Agency and the Ministry of Economy and Competitiveness, through the Crea y Crece Act, are working together to align the electronic invoicing systems between companies with the Verifactu system, thus making both systems compatible and working in a coherent manner.