With the new Ticket BAI regulations coming into force on the horizon, confusion continues to arise with regard to the Immediate Supply of Information. These are two initiatives that, despite having some similar features, are very different, so it is important to know exactly how they are similar and how they are not.
Both Ticket BAI and SII were born from the need to provide information on companies' billing records, although with different objectives and processes.
The aim is to provide companies greece email list with a technological system that facilitates the accounting and recording of income.
The Immediate Supply of VAT Information (SII), in force since July 1, 2017, requires certain companies to electronically submit their billing data to the AEAT , thereby configuring the VAT Registration Books.
For its part, Ticket BAI , which will come into force for companies in the Basque Country from October 2020 and progressively, will oblige them to send the invoices issued to the corresponding provincial council. It is, therefore, a new system of telematic control of income that, in addition, is expected to soon be extended to the entire Spanish territory.
For the time being, all companies, consultancies, professional offices and self-employed persons in the Basque Country will be obliged to comply with the new system when managing invoicing in their businesses.
With their clear objectives, both systems contribute to:
Improve billing processes.
Prevent tax evasion and, therefore, tax fraud.
Ticket BAI is expected to be implemented in the Basque Country in mid-2020.
What are the main objectives of each ?
At first glance, it may seem that both share a clear purpose: the control of fraud against public treasuries; but their purpose has important differences that we must take into account for a better understanding.
Ticket BAI: what is its objective?
Ticket BAI aims to fight tax evasion intrinsically. Firstly, it proposes that it be used by all types of taxpayers to control, mainly, cash payments by small and medium-sized businesses and thus avoid an underground economy.
And, on the other hand, it aims to ensure that each company and self-employed person pays taxes based on their true income.