Advantages of the SII model for companies

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The new SII (Immediate Supply of VAT Information) is a change in the declaration system in the AEAT that is mandatory from July 1, 2017 for some companies. Specifically, this change in the VAT management system applies to taxpayers who are required to self-assess VAT on a monthly basis:

Registered in REDEME (Monthly VAT Refund Registry)
Large companies (with turnover exceeding €6 million)
VAT groups
It will also apply to taxpayers who voluntarily wish to south africa telegram data use this system (by opting for form 036 in the month of November prior to the year in which it will take effect).





The current VAT management system has been in operation for over 30 years. Until now, VAT has been managed based on the information provided by taxpayers and other information obtained by the AEAT. With this change in the system, the information is supplied almost immediately and the data is automatically cross-checked .

The new SII brings the moment of accounting for invoices closer to that of the actual economic transaction. Invoices will no longer be sent, but rather prior information on invoicing will be provided. This gives the administration more information and, above all, the ability to verify it.