12 Eyl 2025
The Canary Islands Government Ministry of Finance and EU Relations has published significant modifications to the electronic maintenance of General Indirect Tax (IGIC) registry books. The mandatory changes announced on February 19, 2024, will take effect on October 1, 2025.
The Canary Islands is implementing fundamental modernization in its tax compliance system. The order dated February 12, 2024, published by the Ministry of Finance and European Union Relations, amends the existing regulation from October 11, 2018, introducing new requirements for electronic submission of IGIC registry books.
Immediate Supply of Information (SII) Mandate
Critical change: Reporting to the Immediate Supply of Information (SII) system becomes mandatory for incoming and outgoing invoice registers for operations subject to and not exempt from the Arbitrio sobre la importación y entrega de mercancÃas (AIEM).
SII reporting will also be required for operations subject to:
Tax on Tobacco Products
Special Tax on Fuels Derived from Petroleum
Tax on the Deposit of Waste in Landfills, Incineration, and Co-incineration
New Field Requirements
The system will add an optional field to mark input tax related to acquisition or import of investment goods. Taxpayers must specify the tax year and period when they plan to exercise the right to deduct input tax from goods or services acquisition if deduction occurs in a subsequent self-assessment.
For exempt operations, specifying the tax rate that would apply without exemption becomes necessary when consigning implicit tax burden.
The changes affect IGIC tax reporting, electronic record-keeping, and compliance processes, requiring businesses to adapt their invoicing and accounting systems to capture new required information.