SII Reporting to be Adopted in the Basque Region

July 19, 2017 Charles Maniace

Organizations operating in the Basque region of Spain will soon be required to comply with SII reporting requirements. As reported in this forum, effective July 1 most companies operating in Spain are now required to transmit information to the Spanish Tax Administration (AEAT) regarding purchase and sale transactions within a few days of invoicing. Today, these requirements do not apply in the Canary Islands, Ceuta, Melilla, Navarra and the Basque regions (which include Alava, Guipúzcoa and Vizcaya). With respect to Navarra and the Basque Regions, the reason the requirement does not apply is due to the special relationship these locations have with the federal government whereby VAT is collected and remitted under a parallel but separate system.

Over the last several days, the Basque Regions and Navarra have announced that they will implement the SII starting January 1, 2018, While the rules will be similar to standard Spanish SII, administration will handled through local authorities and not AEAT. We expect additional regulation and technical specifications to follow shortly.

The post SII Reporting to be Adopted in the Basque Region appeared first on Sovos.

About the Author

Charles Maniace

Charles Maniace is the Director of Regulatory Analysis at Sovos, a leading global provider of software that safeguards businesses from the burden and risk of modern tax. An attorney by trade, Chuck leads a team of attorneys and tax professionals responsible for all the tax and regulatory content that keeps Sovos customers continually compliant. Over his 15 year career in tax and regulatory automation, he has provided analysis to the Wall Street Journal, NBC, Yahoo! Finance, Politico, USA Today, Entrepreneur and more.

Follow on Linkedin Visit Website More Content by Charles Maniace
Previous Article
House Appropriations Subcommittee Introduces Bill with Potential to Affect ACA Reporting

A House Appropriations subcommittee has introduced H.R. 3280 – a draft of which was released during the Jul...

Next Article
Tax Reform on the Horizon in Puerto Rico

The Secretary of the Treasury for the Commonwealth of Puerto Rico announced that they plan on encouraging t...

×

Regulatory Analysis News - Delivered Weekly

Company
Thank you for subscribing!
Error - something went wrong!