The Administration grants a special period for opting out of REDEME if we do not wish to enter the SII
As we have mentioned before, the arrival of the SII ( Immediate Supply of Information) system is imminent. We will remind you who is required to use it and what this new information system means for taxpayers.
Obligated:
New obligations:
- Maintaining the VAT register book in the Electronic Office of the AEAT
- Provision of information about invoices issued and received within four days (8 days for the period up to 31-12-2017) without counting Saturdays, Sundays or national holidays
- Only large companies and VAT groups will be required to provide information on invoice records for the first half of the financial year by the deadline of December 31, 2017
Reduction of obligations:
Businesses required to use the SII system are exempt from submitting forms 390, 347 and 340.
Possibility of opting out of the SII
If we fall under the categories of those "required" to register with the SII (Immediate Supply of Information), this requirement is non-waivable. However, businesses included in the REDEME (Monthly Refund Register) have the option to opt out, as their registration in the Monthly Refund Register was voluntary.
The way to opt out of the REDEME (Registry of Businesses Registered in Spain) is by submitting a census declaration during the month of November of the year prior to the effective cancellation. However, since the regulations implementing the SII (Immediate Supply of Information) system from July 1, 2017, were published in December 2016, and at that time businesses included in the REDEME were unable to assess the advisability of remaining in that Register under the new rules, Royal Decree 529/2017, of May 26, was published in the Official State Gazette (BOE) on May 27, amending the VAT Regulations by adding two transitional provisions (fourth and fifth) which establish the following for the year 2017:
- An extraordinary deadline for requesting deregistration from the monthly refund register (REDEME), which can be done until June 15, 2017 and with effect from July 1, through the census declaration form 036
- An extraordinary period for waiving the application of the special regime for groups of entities, which may be carried out until June 15, 2017 and with effect from July 1 of that year through the census declaration model 039
In conclusion:
Businesses included in REDEME must assess whether or not it is advisable to remain in the program before June 15th. To do so, it is essential that they check if their IT system is adapted to provide a rapid response to the need for immediate information submission, if their current administrative structure will allow them to manage these new obligations within the established timeframe, and if, in the latter case, the financial savings from receiving monthly VAT refunds compensate for the potential management or investment costs they would need to assume to properly fulfill the obligations required by the SII (Immediate Supply of Information).
A graduate in Business Administration from the University of Barcelona, she has furthered her training in tax and accounting by attending courses and seminars offered by the EAE Business School, the College of Economists, the Bar Association, and the Terrassa Chamber of Commerce.
She combined her studies with work in the family business and as a substitute in the production audit department of Bimbo SA.
She has spent her professional career at Àmbit Assessor, where she joined in 1991 to support the accounting and tax department, becoming a consultant a few years later.
Since 2000, she has been the managing partner of the company.
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