TAXES IN SPAIN. THE VAT. THE SII
The SII (Suministro inmediato de información)
The SII (Suministro inmediato de información) is the system of information that the Spanish Tax office has for some companies in relation with the VAT
Who has to submit the information to the SII?
Big companies, that have invoiced more than six millions euros in the previous year, as they have to prepared monthly tax declarations, not only for VAT but also for withholding taxes, etc.
Companies included in REDEME, a special regime for those companies that want to prepare monthly their declarations in order to claim the VAT balances in their favour at the end of every month instead of at the end of the year. In this way the companies can receive these amounts faster (usually in two or three months after the declarations). Otherwise they would receive the VAT return in May / June of the next year, as the tax refund could be only requested in January, when preparing forth quarter declaration.
Although it is not usual some companies can submit their registers with the SII voluntarily.
What does the SII consist of?
It is the information to submit to the tax office through the Tax office website with the main datas of the incoming and issued invoices. This information has to be sent in the period of four days since the invoice has been issued or four days since the invoice has been received in case of incoming invoices.