On July 1, 2017, the new AEAT Immediate Information Supply (SII) system comes into force. The current technological situation allows the implementation of a new VAT SII based on the maintenance of the Registration Books through the Electronic Office of the AEAT by means of the immediate supply of the billing records. The presentation of the SII with Sage allows this process to be automated and action times to be shortened.
What is IBS?
The SII is the Immediate Supply of VAT Information with the Tax Agency . The so-called “online VAT” or Immediate Supply of Information (SII) is a more agile and modern procedure for telematic or online management of VAT registration books, which comes into force on July 1. The new SII is being introduced through the Electronic Office of the Tax Agency (AEAT), where companies will have to provide the records of invoicing, issued and received electronically . With this information, the AEAT will configure, in real time, the different associated Registration Books.How to adapt to IBS with Sage?
Managing the new SII requires business management software that is prepared to respond to this new procedure. Adapting to the new SII with Sage is very easy. Sage presents two solutions to adapt to this new technology: the Sage SII Standard solution and the Sage II Advanced solution. The Sage SII Standard solution is prepared to comply with the new regulations and streamline processes- Adaptation of the program to the new changes of the AEAT
- Creation of .XML files with the data required by the AEAT
- Direct connection to the AEAT
- Adaptation of the program to the new changes of the AEAT
- Creation of .XML files with the data required by the AEAT
- Automatic and scheduled sending of invoice registrations, cancellations and modifications to the AEAT
- Complete management of AEAT responses
- Automatic identification of AEAT error codes
- Status viewers responses
- Checking invoices sent
Who is required to file the SII?
Large companies with an annual turnover of more than 6 million euros. Companies registered in the Monthly VAT Refund Regime (REDEME). SMEs and self-employed persons who pay taxes under the special VAT group regime.Advantages of SII
The deadline for filing periodic self-assessments. An additional 10 days are added to the filing period, which is extended until the 30th of the month following the end of the corresponding settlement period.- Formal obligations are reduced , eliminating the obligations to submit forms 340, 347 and 390.
- The information requirements from the AEAT are lower , since they will now have the detailed content of the invoices.
- Errors are avoided , since the electronic office will have your company's tax data to be able to prepare a VAT draft and facilitate your declaration.
- Time saving . With this system, the Registration Book is created at the Tax Agency with the information that is provided.
- Voluntary compliance is facilitated : In the AEAT electronic headquarters, you will have a “declared” registry book and another “verified” one with data from third parties who also belong to the group of this system, or from the Tax Agency's own database.
