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The fight against tax fraud in England takes a crucial step with the introduction of the Anti-Fraud Law and the Verifactu system. As a company or self-employed individual, it is vital that your invoicing software is prepared to comply with this new regulation.
We have excellent news! Our Dolibarr installations are already fully adapted to Verifactu. You can rest assured that your invoicing management meets all legal requirements.
What is Verifactu?
Verifactu (BOE 28-10-2024) is a set of technical requirements for invoicing programs. Its main objective is to prevent the manipulation of issued invoices and ensure the integrity of records.
To achieve this, the system includes:
- A QR code in the header of each invoice, with essential information that ensures its immutability.
- A chaining of invoicing records through an electronic “fingerprint” or “hash”.
- Immediate communication of each invoice to the Tax Agency (AEAT) servers through a secure connection.
In essence, Verifactu guarantees security and transparency, reducing tax fraud and simplifying the invoice verification process. For SMEs and self-employed individuals, it can be a complete headache if they do not have an adapted and intelligent system to help them, and it is possible that, in the absence of the right tool, they will spend more time reporting than working. Therefore, choosing an ERP is fundamental.
Who is required to use Verifactu?
The regulations apply to most companies and self-employed individuals. However, there are two main exceptions:
- Companies that are already part of the Immediate Information Supply (SII).
- Self-employed individuals who are not required to issue invoices, such as those in modular or equivalence surcharge regimes.
What happens if my system does not comply with the law?
The Anti-Fraud Law is clear on this matter. Failing to adapt your invoicing program to Verifactu carries significant penalties. The fine can amount to 50,000 € per year in which an illegal software has been used.
With our Dolibarr installations, you won’t have to worry about these fines. Your system is already updated and ready to operate under the new regulations.
Is Verifactu the same as Electronic Invoicing?
No, they are not the same.
Verifactu is an anti-fraud system that applies to B2C (business-to-consumer) or B2B (business-to-business) invoicing, depending on whether the company is or is not in the SII. It is a technical requirement for invoicing software.
Electronic Invoicing is a system for issuing invoices between self-employed individuals and companies (B2B) in a specific format, such as XML. Its introduction will be later than Verifactu. The good news is that our Dolibarr ERP is already prepared for both protocols: Verifactu and Electronic Invoicing.
Ensure the peace of mind of your business and comply with the law without effort. If you have any questions about the implementation or how this regulation affects you, do not hesitate to contact us.