The Relationship Between the Anti-Fraud Law and the Create and Grow Law

The Anti-Fraud Law (Law 11/2021) and the Create and Grow Law (Law 18/2022) are two regulations that will fundamentally change how businesses interact with each other and with the government when issuing invoices.

However, despite occasional confusion, these are two distinct laws with different objectives. The Anti-Fraud Law, implemented in 2021, introduced new restrictions and penalties for the use of illegal software that enables double bookkeeping.

On the other hand, the Create and Grow Law laid the groundwork for the future requirement of issuing electronic invoices in transactions between freelancers and businesses. This requirement is expected to come into effect in the spring or summer of 2024 for small and medium-sized enterprises (SMEs) with more than eight million euros in revenue, and in the spring or summer of 2025 for all other businesses.

Although they are separate regulations, they complement each other. With the Create and Grow Law, freelancers will eventually need to adopt invoicing software to issue electronic invoices to their business clients.

Once the Anti-Fraud Law regulations take effect, this software will need to be certified and comply with the established requirements.

Challenges Faced by Freelancers:

1. Adaptation to Technology: Many freelancers may not be tech-savvy and could find the transition to digital bookkeeping challenging.

2. Cost of Implementation: Acquiring and integrating new software can be costly.

3. Learning Curve: There's a significant learning curve associated with new software, which could lead to initial productivity loss.
   

How Our Bookkeeping Services Can Help: Our tailored bookkeeping services are designed to alleviate these challenges by providing:

• Integrated Software Solutions: We offer cutting-edge bookkeeping software as part of our service packages at no additional cost. This software is compliant with the latest legal requirements, ensuring that you won't face any compliance issues.

• Full Training and Support: We provide comprehensive training sessions for our clients, ensuring that you are well-versed in using the software efficiently. Our support team is also available to handle any queries.

• Cost-Effectiveness: With software costs included in our services, freelancers can enjoy the benefits of advanced bookkeeping tools without the burden of extra expenses.
  

Benefits of Professional Bookkeeping Services:

• Time Savings: Automated bookkeeping saves time, allowing freelancers to focus more on their core business activities.

• Financial Accuracy: Professional bookkeeping reduces the risk of errors in financial reporting, which is crucial for compliance and making informed business decisions.

• Peace of Mind: With expert bookkeepers handling your financial details, you can have peace of mind knowing that your financial records are accurate and compliant with local laws.