Libros registro de IVA (VAT record books)

There is no rigid official format: a spreadsheet or invoicing software is fine, as long as the books contain the data required by the VAT regulations and match what you filed. kontora builds them automatically from your invoices and expenses and reconciles them with the draft of Modelo 303.

Each entry records, at least, the date, the invoice number, the name and tax ID of the other party, the taxable base, the VAT rate and the VAT amount. Investment goods have their own book because the VAT paid on them can be adjusted over several years.

The typical mistake is logging as a received invoice something that is not one, for example a till receipt without the buyer's details, and deducting its VAT. Another classic is recording an invoice in the wrong quarter, so the book no longer matches what you declared. If the tax agency asks for the books in a review and they do not match your returns, you will have to explain every difference.

The libros registro de IVA feed the quarterly Modelo 303 and the annual VAT summary. Businesses in the SII keep them directly on the tax agency's portal. In an SL they sit alongside double-entry bookkeeping, and for an autónomo under direct assessment, alongside the income and expense books.

Guides that use this term

• Verifactu and SII: differences, who is obliged and why they do not add up

Related terms

• Autónomo: An autónomo is a self-employed individual who works independently in Spain and bears the financial risk of their own business.
• IVA: IVA is Spain's value added tax, charged on the sale of goods and services; the general rate is 21%.
• Modelo 303: Modelo 303 is the quarterly VAT self-assessment, where you declare the VAT charged on your invoices and deduct the VAT paid on eligible purchases and expenses.
• SII: The SII is the AEAT system through which certain taxpayers keep their VAT record books directly on the tax agency's electronic portal, submitting the details of each invoice within a few days.

Full glossary