Transparency has become a key requirement for companies, regardless of their size. The Spanish government is trying by all means to put an end to undeclared payments, invoice manipulations and, in short, any paper document susceptible to being modified. Here, technology plays an essential role, as thanks to new mechanisms —supposedly— the automation and modernization of traditional processes is simpler. Verifactu was supposed to be this, an easy lever for change to maintain business transparency. However, after two postponements and a great "administrative silence", in the words of the head of the tax and financial advisory service of Cecot, Enric Rius, its implementation continues to be a complete mystery and, even, an added complication for some companies.
Verifactu is the Tax Agency's system to ensure that invoices cannot be manipulated. It is part of the anti-fraud law and the Invoicing Systems Regulation (Royal Decree 1007/2023). It is basically a set of processes for sending invoice receipts that, first, have been made through software. It is not a platform for making invoices, but a set of requirements that the invoicing program you use must meet. Each invoice generates a record with a chaining (hash) that prevents it from being altered or deleted without leaving a trace. "The proof that the Treasury needs to guarantee transparency", summarizes Rius in a conversation with The New Barcelona Post. The implementation is scheduled for January 1, 2027, for companies and July 1 of the same year for freelancers. So far, however, the Spanish government has not mentioned the regulation again and according to the head of Cecot's tax and financial advisory service, this lack of communication from the administration is "what makes us doubt that it will be fully implemented."
It would not be the first time this system has been postponed, as the first time its mandatory implementation was stopped at the request of some SMEs. It was supposed to start in January and July 2026 and an extra year was requested. Among those who made this request was Pimec. The president of Pimec Comerç, Mònica Gregori, explains to this newspaper that the regulation still "has inconsistencies" and "can be difficult for businesses to implement." That is why at the time they wanted more time so that everyone could get there in the same way and without suffering: "It is an important enough change not to leave anyone behind," remarks the president of Pimec Comerç. This time, Gregori acknowledges that three months before the end of the year they still "don't know anything" and reminds that there have also been new changes in some European regulations, such as the ViDa project, an initiative also to modernize and adapt the VAT system to the digital era and reduce tax fraud, with which Verifactu "would not quite fit."
This administrative silence is seen differently by the two employers' associations. On the one hand, Gregori fears that Verifactu will end up being implemented within the deadlines and force SMEs to make investments that "they will probably have to redo in 2030 when the European ViDa project is launched." That is why she demands more information and emphasizes that small and medium-sized companies have to make large investments for this kind of changes and, at least, "they need them to be adequate." On the other hand, Rius states that this lack of governmental communication could mean a new postponement, which for the expert would be a mistake, because "many companies have already spent money on the necessary digital tools." An opinion that Gregori does not entirely share, who specifies that, at least in the retail sector, "not so many people are prepared."
Local commerce worried
If we go to the highlights of this new project, Verifactu is nothing more than a system for verifying all business movements. It may seem like a simple tool for many companies, for example, Rius assures that "it does not have a great extra cost when you already have software installed," a situation that —he repeats— is very common among companies. Gregori, however, focuses on businesses, especially the local businesses that we all have in mind: fishmongers, shoe repair shops, and other "micro-enterprises," as the president of Pimec Comerç defines them. Gregori argues that for these companies, making technological changes of this size entails "a very great effort." Furthermore, she reminds that if "they impose something that is not correct" —referring to the possible inconsistencies between the ViDa project and Verifactu— they are even more at risk. In addition, she explains that in the economic sphere there were some aids that had been launched —with money from the Next Generation funds— which in practice, "have never arrived": "We have spoken with many businesses that have not had the option of getting this money," says the expert.
For this reason, the president of Pimec Comerç asks for time, more training, and for the continuity of these companies to be ensured. In this way, she highlights the need for more consistency in this kind of regulations so as not to make companies go "from one side to another." A point that Rius also shares, who does not speak of Europe, but specifies that the entry into force of the ministerial order on Electronic Invoicing will be launched this Thursday, October 1, 2027. This is another of the governmental tools to alleviate fraud and would come into force on October 1, 2027, just nine months after the launch of Verifactu. "It is true that I have heard some complaints from people who ask that everything can be combined into a single regulation," admits Rius, who also adds that it would be beneficial for companies if the public administration "unified the criteria of Verifactu and Electronic Invoicing."
In short, Verifactu will come into force on January 1, 2027, if there are no changes. Expert voices disagree on its implementation and a possible new postponement, but what they do agree on is the need for a more communicative and coherent public administration regarding some regulations. While Rius considers the postponement a new obstacle, as he states that until "it is implemented, people will not get their act together," Gregori sees it as an overly restrictive regulation that offers no incentives to entrepreneurs: "We should promote more bonus policies, not prohibition," concludes the president of Pimec Comerç.