NEWS

At the African Tax Administration Forum (ATAF) annual meeting in 2024 in Kigali, Mr. Logan Wort, Executive Secretary, revealed that “Africa loses approximately $50 billion each year to tax evasion“.

This issue has been recognized for years, and many African countries have actively worked to combat tax fraud through fiscalization measures. Some were global pioneers, introducing fiscalization as early as the beginning of the 21st century, among them Kenya, Ethiopia, and Rwanda. Their example was later followed by Tanzania, Zambia, Uganda, and Mozambique. Over time, several of these countries have modernized their initial fiscalization systems to align with evolving technological and regulatory standards.

Although Spain is rapidly approaching its 2027 deadline to start issuing fiscal invoices, no concrete regulatory framework for Verifactu has yet been published, leaving taxpayers uncertain about the next steps. This article delves into the status of this initiative and what these legal changes will mean for taxpayers.