The Create and Grow Law has caused quite a stir in Spain since its approval last year. Since then, its objective has been to to promote the creation and growth of companies in the country. However, it has been the subject of discussion in the media in recent months, as a draft Royal Decree with certain changes has been released. This has generated a lot of expectation, and debates continue in the business world. We would also like to take this opportunity to discuss the latest developments regarding the Create and Grow Law.
The draft Royal Decree and its approval
This is not the first article in which we discuss this regulation. Given its importance and the changes surrounding it, it will certainly not be the last. However, we would like to discuss the new features of the Create and Grow Law that have been announced recently.
In relation to this legislation, a draft Royal Decree has recently been drawn up. This seeks to develop aspects related to electronic invoicing and specifies the technical requirements that solutions for issuing or receiving digital invoices must meet. The draft is currently in the "submission of comments on the text" phase, which is the last stage before its final approval.
According to government sources, the draft Royal Decree is expected to be submitted to the Council of Ministers for final approval in the near future. There is even talk of the possibility that the final text could be approved before August, which would indicate that the new regulations would come into force in the near future. Even so, with the early elections, there is complete uncertainty.
Technical specifications for electronic invoicing
The fact is that the draft Royal Decree sets out technical specifications that must be met by the invoicing solutions used by companies and professionals in Spain. These are intended to ensure interoperability and security in the exchange of electronic invoices, as well as promoting the widespread adoption of this type of invoicing.
According to the Ministry of Economy and Competitiveness, the main technical specifications include the aspects outlined below.
Electronic format
The draft Royal Decree establishes that electronic invoices must be issued in a structured format. This format must comply with recognized international standards, such as XML (Extensible Markup Language). In this regard, we would like to point out that at easyap we work with all formats, especially facturae and UBL.
The use of a structured format allows invoice data to be automatically interpreted and processed by systems. This facilitates management and verification. It also helps to streamline invoicing processes and reduces the possibility of manual errors.
Electronic signature
The electronic signature is a fundamental element essential element in guaranteeing the authenticity and integrity of electronic invoices. The draft stipulates that electronic invoices must be digitally signed using a recognized certificate.
At easyap, we have already explained in detail what electronic signatures are used for. But, broadly speaking, it ensures that the invoice has not been modified after it was issued and allows the identity of the issuer to be verified. In addition, it provides legal backing for the electronic invoice, equating it with the paper invoice in terms of legal validity.
Required content
This draft of the new provisions of the Create and Grow Act also indicates the mandatory elements that must be included in all electronic invoices issued in Spain. These are necessary to comply with tax and administrative requirements.
Some of these mandatory elements are:
– Detailed information about the issuer and recipient of the invoice (name, address, and tax ID).
–– Items billed.
– Amounts (taxable base, taxes, and total).
– Invoice number.
– Date of issue.
In any case, you can find out exactly the mandatory information for an electronic invoice here. This will ensure the traceability of the commercial transaction and facilitate compliance with tax obligations.
Secure storage
The draft also establishes requirements for the secure storage of electronic invoices. Its objective is to preserve the integrity and availability of invoices over time, ensuring their validity and that they can be consulted at any time in case of legal or tax requirements.
In this regard, secure storage means that invoices must be stored in electronic format and kept in a protected environment from possible damage, loss, or alteration. In addition, minimum retention periods are also set for invoices in order to comply with legal and tax obligations.
Exchange of invoices
Another aspect addressed in the draft is the exchange of electronic invoices between companies and professionals. In this regard, it establishes the mechanisms and requirements for the transmission of electronic invoices. It even offers options such as sending by email, using electronic data interchange (EDI) platforms, or adopting certified electronic invoice solutions.
This point promotes the adoption of open standards and interoperability between the different systems used by companies. It also facilitates the automation of the invoicing process and reduces the need for manual intervention.
In general, these technical specifications seek to facilitate the implementation of electronic invoicing in the business world, improving efficiency and transparency in invoicing processes. As a result, they help reduce the administrative burden associated with this process in any company or business.
How easyap helps you comply with the new provisions of the Crea y Crece Law
Throughout this process, we want to remind you that at easyap we are prepared for any changes that may occur. We adapt to any new developments in the Create and Grow Act.
For more than two decades, we have specialized in electronic invoicing and administrative management solutions. In other words, we offer invaluable support to companies seeking to comply with the Crea y Crece Law, both now and in the future.
A good example of this is that at easyap we have guarantee certifications. Not only that, but we also collaborate with relevant organizations and authorities at the national, European, and global levels:
– ISO 27001 certification. Easyap is an ISO 27001 certified company. This means that we comply with international information security standards. Data confidentiality is essential in the implementation of electronic invoicing, as it provides vital peace of mind.
– Members of the European Electronic Certification Network. We are part of the European Electronic Certification Network, demonstrating our commitment to European standards and requirements for electronic invoicing. This membership keeps us up to date with the latest regulations and allows us to offer solutions adapted to the latest regulations.
– We are part of the Peppol network. We are also members of the Peppol (Pan-European Public Procurement Online) network, which facilitates the electronic exchange of commercial documents between companies and government entities in Europe. Our inclusion in Peppol offers the possibility of establishing secure and standardized connections between companies and with the Public Administration. Therefore, we simplify the billing and compliance processes of the Crea y Crece Law.
– We collaborate with the Tax Agency. We have established a collaboration with the Tax Agency that allows us to stay up to date with regulatory updates and specific tax requirements. In this way, our solutions remain aligned with the guidelines and requirements of current tax legislation in Spain. Thus, our clients are in full compliance with the relevant tax obligations.
In summary, at easyap we have positioned ourselves as a strategic ally for companies that want to comply with the new provisions of the Crea y Crece Law in Spain. These alliances, agreements, and partnerships make us a trusted and competent choice for the implementation of effective electronic invoicing solutions that are adapted to changes.
In addition to all of the above, there are the technical benefits of the software at the enterprise and business level. Our solutions stand out for their multiple technical advantages:
– Process automation and agility.
– Integration with other existing systems such as ERP.
– Regulatory compliance, as we adapt to the tax requirements of different regions, markets, and/or administrations.
– Security and confidentiality in the issuance of information.
– Solutions with a high degree of customization and scalability.
As you can see, these advantages help optimize the management of electronic invoicing and other administrative processes. Therefore, they save time, reduce costs, and improve efficiency in your daily operations.
Conclusion on possible changes to the Create and Grow Act
In conclusion, the draft Royal Decree implementing the Create and Grow Law promises significant in relation to electronic invoicing. In fact, it has already generated great expectation in the business world in Spain and in the media.
Likewise, the proposed technical specifications seek to establish requirements that guarantee interoperability and security in the exchange of electronic invoices. It is expected to be approved soon, marking a milestone in digital transformation of invoicing processes. Companies and professionals will have to adapt to this new regulation and take advantage of its benefits. Contact us so we can help you with this exciting new process that is just around the corner.
