VeriFactu and SII: Key Points to Understand Both Tax Systems
In the Spanish tax environment, digitalization and real-time control have driven systems such as Verifactu and SII, which improve the management and traceability of invoices. Although both share the goal of combating tax fraud, the Verifactu and SII systems present key differences that are worth understanding for proper compliance.
Below, we explain what the Verifactu and SII systems are and what the main differences between both models are.
What is Veri*Factu and what is SII?
Veri*Factu is a mandatory system for real-time invoice verification and traceability. Its main purpose is to ensure that invoices are complete, unalterable and fully traceable, preventing the use of software that allows information to be manipulated, which helps combat tax fraud.
SII (Immediate Supply of Information) is an electronic system for the near real-time submission of VAT records, both for issued and received invoices. Its aim is to modernise VAT management, allowing the Tax Agency more immediate control over transactions and eliminating the need to submit certain traditional declarations, such as form 347 or 390.
Legal basis and scope of application
Veri*Factu is backed by Law 11/2021 against tax fraud and regulated by the Veri*Factu Regulation (R.D 1007/2023). Its mandatory application will begin from 1 January 2026 for all business owners and professionals who use computer systems for invoicing, except for those already required to use SII.
SII is governed by Royal Decree 596/2016 and subsequent regulations, in force since 2017. It is primarily aimed at large companies (with turnover exceeding 6 million euros), VAT groups and companies registered with REDEME (monthly VAT refund). For others, its use is voluntary and is activated after the VAT settlement period.
What information is transmitted and how?
In Veri*Factu, invoices are generated with digital fingerprints (hash) and sent in real time to the Tax Agency if the company opts for the Veri*Factu system. Additionally, invoices and receipts must include a QR code that guarantees their traceability.
In SII, the details of each issued and received invoice are submitted within a maximum of 4 working days, along with other records such as investment goods or collections. In systems like ERPCloud, this submission is automated twice a day.
Technical formats and submission deadlines
Veri*Factu requires software capable of generating unalterable records in formats such as XML or JSON, and submission can be made in real time after issuance.
SII operates through web services that send XML files via the AEAT electronic headquarters, with a deadline of up to 4 working days for submission.
Amendment and retention of invoices
Veri*Factu does not allow records to be modified once submitted. If there is an error, a corrective invoice must be issued.
SII allows information already submitted to be corrected, provided that the established formal requirements are met.
Regarding retention, Veri*Factu requires maintaining traceability with remote access for the AEAT, while SII eliminates the need to keep physical records, as electronic records are stored at the Tax Authority.
Fines and penalties for non-compliance
Failing to use software compliant with Veri*Factu can result in fines of up to €50,000 and 0.5% of annual revenue for failure to retain records.
Under SII, penalties apply for delays or errors in submission, at 1% of the invoice amount, with a minimum of €150.
Main advantages
Veri*Factu stands out for guaranteeing the integrity and real-time traceability of invoices, representing a significant step forward in the fight against tax fraud and greater security for businesses.
For its part, SII offers the advantage of automatically generating draft VAT records and eliminates the obligation to submit certain forms such as 347, considerably simplifying administrative and tax management.
Understanding these differences is key for businesses to properly adapt to the new tax obligations and avoid penalties.