Due to the Law 18/2022, from September the 28th, focussed to business creation and growth, there have been changes in the compulsory invoicing method, among other remarkable measures. This law will take effect on October the 18th. However, exceptionally, for invoicing method changes, there will be a time frame of one year after the approval of the regulatory development of this Law for businesses with a turnover above eight milllion Euros, and two years for the rest. It will probably start being effective between 2023 and 2024. Finally measures related to crowdfunding shall be taken into force on November the 10th 2022.
The main changes in the invocing method shall be:
- The obligation to issue electronic invoices in all commercial relationships. They will have to be uploaded in a software that allows the recipients to download, read or print invoices from the previous four years without cost. Such platform will be chosen by the transmitter.
- The electronic invoices will grant access to information about delays in payments, that will be followed by the newly created National Payment delay Observatory. the Authorities will also grant benefits for the reduction of payment periods such as a favourable validation in public contracts.
- -Speed up business creation. Posibility of creating a Limited Liability Company (SL) with less tan three thousand Euros in share capital, if certain requirements are met.
- -New legal framework for crowfunding platforms. Introduction of new limits in individual and project investments.
If you have further doubts don´t hesitate to ask us.