VeriFact’s invoice verification systems are essential to combat tax evasion and fraudulent practices before the relevant authorities. With them, it is possible to bring order and more precise administrative control to any store or business.

An invoice verification system like VeriFactu is essential for taxpayers avoid generating false documents that detail operations that do not actually exist. Fraudulent activity or fraud is combated through validation, which helps tax payments and the government better control tax evasion.

Issuing false invoices It is a phenomenon that exists all over the world and is carried out by fraudsters or companies that do not want to pay taxes to the government. In this way, they make the illegal activities to be in accordance with the law and negatively affect the country’s economy.

The characteristics of a rating system like VeriFactu and the role it plays in companies are described in more detail below.

What is VeriFactu?

VeriFactu is a system Digital invoice verification designed for self-employed people and small businesses in Spain who want to meet their tax obligations efficiently and quickly. It aims to prevent any business or trade from engaging in evasive practices to avoid paying taxes to the government, promote digitization and automate billing processes.

With an authentication system of this type, it is possible create reliable electronic invoices and cannot be manipulated.

Anti-fraud law in Spain has introduced verifiable invoicing systems such as VeriFactu. It is an electronic process in which all invoices are registered to the state treasury in record time. The requirements that this type of computer software must meet are now set out in the Anti-Fraud Act 2024, to be certified by the AEAT.

Requirements of the Anti-Fraud Act 2024

Each of the invoices is issued by self-employed persons and companies They must be done digitally and must be verified by the tax authority. The process doesn’t work this way yet because many companies still use Excel and Word.

Although the Anti-Fraud Act 2024 came into force from 2021, the requirements to use certified software such as VeriFactu still remain. pending approval.

Online invoice verification systems guarantee the preservation, traceability, availability, integrity, immutability and legibility of invoices generated by businesses, as specified in the law. So software like VeriFactu collects reliable, non-tamperable data and adds a verifiable factor to it.

Billing records They must be issued through electronic channels to the State Administration of Taxes and Fees. In this way, continuous, complete, safe, correct, sequential, automatic, reliable and immediate generation is ensured.

In addition, self-employed persons and businesses that issue invoices must have a SIF adapted to the established requirements and applicable regulations. in development probably by 2025. In this way, the accounting records will be sent to the tax administration.

Each invoicing software will have 9 months to adapt to the directives of the law after approval by the ministerial decree responsible for its development.

How does VeriFactu work?

VeriFactu guarantees that invoicing systems meet the specifications of the Anti-Fraud Act 2024, some of its conditions are:

• Immediately after issuing the invoice, generate a record that is sent directly to the tax administration.
• Invoices must be chained, this is an additional verification process that, along with registration, improves invoice verification and information to detect tampering before submission.
• VeriFact’s systems must be authentic and accurate and must not be altered by any external software, person or device.

It should be noted that changing the invoice means any action of total or partial modification or addition original document data.

What sends VeriFact to the treasury?

Data that VeriFact systems send to Treasury includes:

• First and last name, NIF, name of the recipient and issuer of the invoice (does not apply to simple invoices), and if it is issued by third parties.
• Description of the operation.
• If it is a replacement or repair, indicating the replaced or repaired aspects.
• Invoice series and number, date of payment, date of issue and specification of whether it is simple or full.
• Date with hour, minute and second of the moment the invoice was issued.
• QR code.
• The amount to be paid, including the basis, withholding taxes and the total amount, and the tax regimes that apply.

VeriFact’s systems apply to all taxpayers who carry out economic activity in Spain. Ceuta, Melilla and the Canary Islands are also included in the scope of this measure. Companies that are in SII will have no obligation as they are presumed to comply with what is set out. The accounting system must meet the requirements of the Royal Decree and be able to send records as if it were not using SII.

Content prepared in collaboration with Cegid.