Exploring Mandatory E-Invoicing Initiatives in Denmark and Spain: A Comprehensive Overview

The European Union is making strides towards mandatory e-invoicing, but the implementation methods vary widely among member states. Some countries have centralized models, while others rely on certified service providers. Denmark and Spain are standing out for their comprehensive digital transformation initiatives, combining e-invoicing with broader financial transparency goals.

In Denmark, the Bookkeeping Act of 2022 mandates digital bookkeeping systems for businesses, with phased implementation deadlines. The Act also requires support for electronic invoicing, preparing businesses for potential future e-invoicing mandates. On the other hand, Spain is modernizing its tax and invoicing systems through the Crea y Crece law and VeriFactu regulation. The Crea y Crece law focuses on standardizing e-invoicing formats for B2B transactions, while VeriFactu ensures the integrity and traceability of invoicing data.

Spain’s mandatory e-invoicing initiative under the Crea y Crece law is facing delays due to technical complexities, with a proposed rollout timeline for large enterprises and SMEs. The VeriFactu regulation mandates certified billing systems for all businesses, with specific deadlines for corporate taxpayers and self-employed individuals. These systems must meet strict criteria for data integrity and potential real-time reporting.

Both Denmark and Spain’s initiatives highlight the trend towards digital transformation in tax and financial compliance across Europe. Businesses are increasingly required to equip their billing systems with e-invoicing capabilities to stay ahead of regulatory developments. These efforts aim to enhance transparency, efficiency, and fraud prevention in financial operations, showcasing the diverse approaches countries are taking to achieve these shared goals.