It is one of the million-dollar questions for entrepreneurs and executives of all types of companies; Crear y Crecer Law: when does it come into effect? Has it been fully approved? But beyond its official status, there are also other questions surrounding one of the most talked-about issues in the business world in recent years. What exactly is this popular regulation? Are there other similar laws in Europe and around the world? Are there still some details to be finalized? These are all very important questions, especially because they have a significant impact on any business. Questions about the Create and Grow Law that we will address in the following lines.
What is the create and grow law?
Law Law 18/2022, of September 28, on the creation and growth of companies is a regulation already published in the Official State Gazette. With it the Spanish government wants to take another step forward in the digital transformation of the entire national business fabric. Among its many aspects is the obligation to use electronic invoicing in transactions between companies. This would be introduced progressively by business sectors.
At easyap, we have already touched on the subject of the Create and Grow Law on several occasions and from different perspectives. In fact, in these articles published on our blog, we have addressed the main aspects surrounding this regulation:
–– Law on the creation and growth of companies in Spain.
– Create and Grow Law: electronic invoicing for SMEs.
– Create and Grow Law: New developments in electronic invoicing in Spain.
A few months ago, we even held an interesting webinar on this standard and everything surrounding it. If you want to know everything that was said in it, just visit and read the questions and answers we published.
The fact is that the entry into force of the Create and Grow Law is not yet complete or entirely official. Therefore, we would like to address several points in this regard throughout this text and dispel the many doubts that arise among entrepreneurs and managers of numerous companies.
The Create and Grow Act comes into force, according to the established deadlines.
As we said, the entry into force of the Create and Grow Law had all the deadlines set since it was published in the Official State Gazette. These deadlines, some of which have already been met, are listed below:
–– June 30, 2022. The Congress of Deputies approved the draft bill of the Create and Grow Law.
– September 15, 2022. Once again, the Congress of Deputies definitively approves the Law on Business Creation and Growth.
– September 29, 2022. Law 18/2022, of September 28, on the creation and growth of companies is published. In other words, the the Crece y Crece Law is now in force in the Official State Gazette.
– October 19, 2022. This is the date of entry into force of the Create and Grow Law (except for the crowdfunding and electronic invoicing regime).
– March 7, 2023. The regulations for electronic invoicing so closely linked to the law are released for public consultation.
But has the entire law already been approved, or are there still sections to be implemented?
In any case, the Create and Grow Law has not yet come into full effect. Under the current regulations, it is mandatory for all company with a turnover of more than 8 million must issue electronic invoices. It is also mandatory for companies that carry out transactions with the Public Administration must invoice electronically.
In turn, many SMEs and self-employed individuals do not yet have this legal obligation, but they will also be subject to it. Current forecasts suggest that this obligation for small and medium-sized enterprises and self-employed workers with a turnover of less than €8 million will come into force in spring or summer 2024.
Political and technological uncertainty surrounding the entry into force of this law
However, the outlook is now less prosperous due to political uncertainty. We already discussed in this article how last summer's early elections affected the entry into force of the Create and Grow Law. In addition, political events related to the formation of a government in recent months are delaying progress on the law.
In turn, political uncertainty is not the only factor hindering the full implementation of the Create and Grow Act. There is also a technological component. Many companies are finding it difficult to implement and work with electronic invoicing systems. Among them, as has been demonstrated, is the public administration.
For all these reasons, although the Crea y Crece law has come into force in Spain, it is not yet 100% applied, nor is it applied to the entire national business fabric. Furthermore, it is still unknown when it will be fully implemented.
Are there any laws in the EU similar to the Crea Crece Law?
What is certain is that this trend toward promoting digital invoicing is not unique to Spain. In fact, similar regulations are being developed around the world, mainly due to the many advantages they offer.
Likewise, regulations on electronic invoicing and other issues vary from one country to another within the European Union. Even so, some EU countries have implemented European directives in this area. For example, Directive 2010/45/EU of the European Parliament and of the Council. France and Italy are two clear examples of countries that have officially implemented similar regulations.
Outside Europe, Spain is not the only country promoting electronic invoicing. Laws have already come into force in places such as Brazil (with an electronic invoicing system called "Nota Fiscal Eletrônica"), Chile, Argentina (where companies are required to issue electronic receipts), Colombia or Peru.
Even the world's superpower: the United States. There is no specific legislation on electronic invoicing. However, some states have implemented regulations in this regard, and there are regulations for transactions with the federal government.
How does easyap help with the implementation of the Create and Grow Act?
The fact is that with the entry into force of this regulation you have to be prepared and adapted. Processes will change radically (if you are not already working on this in your business). Therefore, you will have to take the step towards emitting electronic invoices, whether out of obligation or necessity. This is where we come in.
Easyap is an accounting software that simplifies and streamlines invoice and expense management. In a context where tax regulations and accounting laws are constantly evolving, our tool stays up to date and makes it easier for you to comply with new regulations.
We know from experience that the entry into force of the Create and Grow Law in Spain has generated expectations and challenges for many companies. But here, we play a fundamental role in helping organizations adapt to this new legislation. That is why we offer you the following benefits.
Automation and regulatory compliance
We automate the invoice management process and ensure compliance with the Crea y Crece Law. In addition, our software integrates with various systems and generates invoices that comply with legal standards, avoiding penalties and fines.
Document digitization and storage
The Create and Grow Act promotes the digitization of documents and reduces paper use. We also contribute to this by allowing you to capture, process, and store electronic invoices and receipts efficiently. By digitizing these documents, you will comply with legal requirements and improve the organization and accessibility of your records.
Data security and backup
Data security is another pillar of the Create and Grow Act. At easyap, we offer advanced security features (data encryption, access controls) that protect information. In addition, the software makes regular backups to save important records and allow you to recover data in the event of an incident.
Report generation and auditing
The national electronic invoicing law also requires greater transparency and auditing of financial transactions. Our software generates detailed reports on your invoices, expenses, and other accounting aspects. These reports are essential for internal and external auditing, providing you with accuracy and integrity.
Process optimization and time savings
The passage of new laws leads to an increase in administrative workload. But by automating repetitive tasks and speeding up invoice approval and accounting processes with easyap, you save time for your accounting and finance teams. This way, you will comply with legal requirements without a significant increase in your operating costs.
Technical support and continuous updates
In addition to the features mentioned above, we offer technical support and regular software updates. This is crucial for keeping up to date with legislative changes. Our team ensures that your software adapts to new regulations and remains a reliable tool for accounting and tax management.
In conclusion, we are a valuable ally for companies seeking to comply with the Crea y Crece Law. With us, , you have a secure, efficient, and up-to-date solution to face the challenges posed by current legislation. Contact us and we will tell you much more.
