4 posts tagged with "tax advisors"

Issuing a corrective invoice and cancelling an invoice are not the same thing. They are two distinct operations with different requirements, different VAT consequences and different technical treatments in the new electronic invoicing systems. Confusing them can lead to loss of VAT deduction rights, errors in quarterly returns and problems in a tax inspection. This guide explains when each applies, what the regulations require and what happens in the system when either is used.

B2B e-invoicing and VeriFactu are not the same thing. They are two separate regulations with two different objectives, two different timelines and two different types of obligations. Yet confusion between them is extremely common — even among tax advisors and accounting firms. This guide definitively clarifies what each one is, who it affects and how they relate to each other.

Mandatory e-invoicing introduces invoice status fields — acceptance, rejection, payment — as a mechanism for traceability and late payment control. They are a valuable tool. But there is a technical and accounting risk that Position Paper No. 3/2026 by Economistas Contables EC-CGE identifies with precision: if those status fields are not managed correctly in the software, they can indirectly push businesses towards recording income and expenses at the moment of actual cash receipt or payment, rather than at the point of accrual. For advisors, accountants and economists, understanding this distinction is essential.

There are two ways to issue an invoice without VAT in Spain: because the transaction is outside the scope of VAT, or because it is within scope but exempt. These are different situations with different fiscal consequences, and confusing them can result in invalid invoices, loss of input VAT deduction rights and problems in a tax inspection. Furthermore, when an exemption applies, the law requires the invoice to state the specific legal basis for that exemption. This guide explains the difference, what exemptions exist and exactly what must appear on the invoice.