Spain has extended draft VAT return preparation to all taxpayers from February 2021. The scheme, Pre303, is named after the existing quarterly self-assessment VAT return.
Pre303 was introduced in 2020 for any large taxpayer – above €6million turnover. It was populated via the Spanish SII (Immediate Supply of Information System) live invoice reporting regime. Invoices submitted to the transactional reporting are now used to compile the Pre303. Check VAT Calc’s global live VAT invoice transaction and e-invoice reporting tracker to see where else real-time submissions of invoices is being implemented.
Spanish SII (Immediate Supply of Information System) live invoice
SII information – The draft VAT return will be generated using the output and input VAT information uploaded through the electronic VAT books submitted. This feature will be only available to those companies obliged to report the invoices issued and received through the SII system. Other fields, such as the current account number from previous declarations, the deferred VAT import quotas, and information related to supplementary declarations submitted will be included in the automated draft VAT return but the taxpayer can modify them.