If your business renders services to or receives services from other EU countries it will be affected by the new Spanish legislation which implements the Directives that make up the “VAT Package”.
All EU countries adopted the new system by 1 January 2010.
Failure to adapt to the new regulations could entail a need to rectify invoices already issued, problems recovering incorrectly paid VAT, the obligation to pay in unpaid VAT plus the relevant interest and even the imposition of fines.
In conclusion, consuming resources unnecessarily and incurring additional costs.
Of further interest