The Crea y Crece Law (Law 18/2022), which promotes the modernization of the business environment and seeks to optimize electronic invoicing and the digitalization of commercial operations, continues to move forward with important innovations.
Recently, the second version of the draft Royal Decree that will regulate the development of electronic invoicing in the B2B area has been published. This new regulation has significant implications for companies, especially with regard to the adoption of new formats and the adaptation of their IT systems.
How will these new developments affect your company?
New features of the Crea y Crece Law
Key changes in B2B E-Invoicing
One of the most outstanding novelties is the change in the invoicing format. In the previous version of the draft, the Facturae format had been established as the standard solution for public electronic invoicing. However, the new version of the regulation abandons this format and adopts the UBL (Universal Business Language), aligning with the European guidelines of the ViDA (VAT in the Digital Age) Regulation, harmonizing tax regulations in the EU. This change of format has implications both for interoperability between national and European systems and for efficiency in the processing of electronic invoices.
The UBL format will facilitate better integration with European invoicing systems, enabling more efficient and consistent management of tax information, benefiting companies that operate internationally or with suppliers and customers in other EU countries.
Timelines and implementation approach
Another relevant aspect that has been modified is the timetable for entry into force. In the previous draft, it was indicated that the term of entry into force of the law would be from one to two years from the publication of the technical regulation. However, with this new update, the implementation period will start to run from the approval of the Ministerial Order of development, and not from the technical regulation, which could further extend the time for companies to adapt to the new requirements.
Adaptation of ERP systems: A fundamental step
One of the key points in adapting to these new regulations is the adaptation of ERP systems. They are fundamental in the management of companies' administrative and financial processes, and their ability to integrate and manage electronic invoicing will be essential to comply with the new regulations.
It is critical that companies take proactive steps to ensure that their systems are aligned with the new regulations, and that they seek appropriate advice to ensure a successful transition.
At PKF Attest, we understand the challenges faced by companies during this transition period and we are committed to offering full support. Our team is available to advise and accompany our clients in the adaptation of their systems, helping them to implement e-invoicing solutions that meet the new requirements.
