Useful journalism to understand, manage and grow a business.
SearchThe announcement gives businesses and self-employed workers more time, but does not eliminate the differences between the two systems or the questions about how they will be applied. E-invoicing will have staggered deadlines based on turnover.
The Treasury has announced that Verifactu will be postponed until October 2028, with the aim of coordinating its implementation with that of mandatory e-invoicing between businesses and professionals. The change gives companies and self-employed workers more time to adapt their processes, although the announced timetable does not mean that the two obligations are equivalent or that all the details have been resolved.
Verifactu sets requirements for invoicing software, with safeguards for the integrity, retention and traceability of records, and protection against improper changes. B2B e-invoicing, by contrast, regulates the issuing and exchange of invoices in electronic format for transactions between businesses and professionals. The Treasury has proposed moving towards greater convergence between the systems, including in certain technical and implementation aspects, but this adaptation will require regulatory changes.
The published timetables set the start of e-invoicing at October 2027 for companies with annual turnover of more than eight million euros. For companies and professionals below that threshold, the deadline is extended to October 2028. Available reports differ on the specific day in October for the first group; it is therefore advisable to distinguish the month and applicable category from the exact dates, which will have to be confirmed in the relevant regulations.
The postponement of Verifactu is intended to reduce the likelihood that businesses will have to make successive technological adjustments within a short period. However, the announced coordination does not mean that planning should be put on hold: Verifactu’s current technical requirements remain in force until the announced amendments are approved.
The Spanish Association of Tax Advisers (Aedaf) and the National Federation of Associations of Self-Employed Workers (ATA) had advocated coordinating the timetables. Lorenzo Amor, president of ATA, described the postponement as “the most coherent approach” for self-employed workers and argued that avoiding consecutive adaptations would reduce the operational burden of the change. These assessments reflect the organizations’ positions; they do not replace the applicable regulations.
The need for clarification also extends to sectors with particular invoicing processes. In the travel agency sector, CEAV has pointed out that changes to trips, travellers, services, prices or cancellations may require corrections if they affect invoices already issued or their records. Ana Barluenga, director of its legal department, welcomed the additional time but warned that operational questions remain.
One issue concerns the Tax Agency’s free invoicing solution: according to CEAV, it currently does not cover certain transactions linked to the Special Scheme for Travel Agencies (REAV) or some intermediary transactions. The industry association is calling for it to be adapted to these specific circumstances. Questions also remain about the final scope of the framework and the treatment of certain documents, such as those created using office software, based on issues raised by sector associations.
The announcement provides more time, but leaves a transition period during which businesses will have to follow the provisions that specify how convergence will work. In particular, each business will need to distinguish between the obligations that apply to its invoicing systems and those that regulate the exchange of invoices with other businesses or professionals. The exact dates and final scope will depend on the regulations that formalize the announced changes.
Coordination is also being considered in light of the future European digital reporting requirements associated with ViDA, which are scheduled to be rolled out across the European Union from 2030. This reference helps explain part of the harmonization objective, but does not in itself change the Spanish obligations currently in force or make it possible to anticipate the final content of future rules.
The first round of elections boosted Brazilian stocks and the real, prompting Citi, JPMorgan, and Morgan Stanley to propose new strategies. The upside potential will depend on whether expectations of fiscal discipline and reforms translate into concrete measures.
Read story
Mexico’s National Antimonopoly Commission (CNA) approved the sale of Telefónica’s business in the country to Melisa Acquisition, a consortium led by OXIO. The transaction, valued at **$450 million**, clears a key regulatory hurdle, although final closing still depends on pending procedures and legal deadlines.
Read story
Jaguar Land Rover has positioned **the United States** as the priority market for the launch of the **Type 01**, its new four-door electric grand tourer, following the positive reception of the prototype in **Canada** and the US market itself. With a starting price of **£130,000** (approx. €153,000) and a power output of **1,030 hp**, the brand aims to attract a new generation of luxury buyers, betting on design and exclusivity amid the uncertainty of electric vehicle demand in the region.
Read story