Deadlines for Electronic Invoice Issuance: Key Dates to Remember

What Are the Terms for Issuing Electronic Invoices?

As electronic invoicing becomes an integral part of daily operations for all VAT-registered entities, understanding its nuances is crucial.
This article dives into the key aspects of electronic invoices, outlining the differences between ordinary and deferred invoices, relevant deadlines, and penalties for non-compliance.

Understanding the Electronic Invoice

An electronic invoice is a structured digital document transmitted electronically to the Revenue Agency’s Exchange System (SdI).
It encompasses essential details of a financial transaction, including the issuer, recipient, service or product delivered, amounts, VAT, and digital signatures.
With mandatory electronic invoicing laws coming into full effect by January 1, 2024, even flat-rate taxpayers must comply.

Defining the Concepts: Emission, Sending, and Transmission

The emission of an electronic invoice refers to its preparation and subsequent forwarding to the SdI, confirming the exact date and timestamp of its transmission.
It’s pivotal to note that the emission date can differ from the date of the transaction.
The law stipulates a maximum issuance timeframe of 12 days for immediate invoices and by the 15th of the following month for deferred invoices.

Types of Electronic Invoices and Their Deadlines

Immediate invoices may be issued during the transaction, allowing the date of emission and operation to align.
Should they be submitted past the 12-day limit, penalties apply, regardless of holidays.
Deferred invoices, on the other hand, require issuance by the 15th of the subsequent month and can only be utilized in specific situations such as goods accompanied by transport documents.

Penalties for Non-compliance

Failure to issue invoices on time can result in substantial penalties.
Starting September 1, 2024, the fine for missing or late electronic invoices will be 70% of the unreported tax, with a minimum charge of 300 euros.
However, if no tax reporting violations occurred, fines vary from 250 to 2,000 euros based on the circumstances.