The new draft bill on the creation and growth of companies requires that all invoices issued by companies and freelancers in their business relations be electronic
Electronic invoicing for SMEs will become a reality in 2022 as a Draft Law
The preliminary draft of the Law for the creation and growth of companies - Crea y Crece Law - will modify the current regulations to reduce the obstacles to the creation of companies, fight against late payments and adapt to the digital trend. The proposal includes a wide range of measures, including the reduction to 1 euro of the capital required to create a Limited Company (which can also be processed telematically) and the imposition of electronic invoices in the commercial relations of companies and self-employed workers.
The objective of electronic invoicing for SMEs is to achieve greater transparency and protection for companies within the framework of the fight to reduce delinquency. To this end, a new article has been introduced to Law 56/2007, of December 28, 2007, on Measures to Promote the Information Society. Article 1 bis "Electronic invoicing between companies and the self-employed" will introduce the obligation for companies and the self-employed to issue and send electronic invoices in their commercial relations with other SMEs.
The entry into force of the electronic invoice will take place one year after its publication in the BOE for those companies with an annual turnover of more than 8 million euros and three years after its publication for the rest.
E-invoicing for SMEs included in the Recovery, Transformation and Resilience Plan
The adoption of electronic invoicing for SMEs is contemplated within the resources foreseen in the Recovery Plan. Specifically, the Digital Toolkit Program will include subsidies for electronic invoicing.
This aid within the Recovery Plan is part of component 13 of "Impulso pyme", whose strategic areas are entrepreneurship, growth, digitalization and innovation, the trade sector and internationalization. Digitalization is materialized in a massive plan with a horizontal (basic package) and vertical (processes and technological innovation) approach.
