Model 347 is an annual informative statement of operations with third parties. It is an informative model, that is, it does not involve payment or refund of any amount.
It is mandatory and is presented in the month of February of the following year and ends on February 28 according to Order HAC / 1148/2018, of October 18.
Through this model, the State Tax Agency is informed of transactions that have exceeded € 3,005.06. This amount is the sum of all the operations of the year, including VAT, with the customer or supplier during the previous year.
The set of the four quarters must be greater than € 3,005.06, including VAT.
Therefore, if in 2018 you have carried out transactions with a third party or supplier for an amount greater than € 3,005.06 as a whole, you must submit this model before February 28.
What operations are declared?
The following operations will be declared:
- Deliveries and acquisitions of goods, habitual or atypical.
- Provision and acquisition of goods, habitual or atypical.
- Subsidies and non-reimbursable aid.
- Real estate operations, habitual or atypical.
- Operations with insurance entities.
- Advances from customers and suppliers.
Obliged to present model 347.
- Physical persons.
- Legal persons:
- Limited partnerships
- Professional associations
- Entities in attribution of rents, foreseen in article 35.4 of the General Tax Law.
Which develop economic or professional activities with third parties for an amount exceeding € 3,005.06. As well as the entities or private establishments of a social nature and the communities of owners for the acquisitions of goods and services that they make in the margin of business or professional activity when their amount has exceeded € 3,005.06.
The presentation of the model 347 will not be obligatory those:
- Those who have the seat of their economic activity outside Spanish territory or do not have a presence in Spain.
- Individuals and entities in the attribution of income in the Income Tax of Individuals, for the activities that are taxed in said tax as well as in the Value Added Tax.
For example, if being autonomous, a supplier has made a billing higher than € 3,005.06 in one year. However, in the invoices issued, the IRPF has been withheld, in each and every one of them.
- Taxpayers who have not carried out transactions that together exceed the figure of € 3,005.06 during the corresponding calendar year or € 300.51 during the same period if it is a collection on behalf of third parties of professional fees or rights derived from intellectual, industrial or author's property.
- Taxpayers who have exclusively performed transactions not subject to the duty of declaration.
- Taxpayers who must report on the operations included in the registry books.
How is the 347 model presented?
The procedure must be through the Electronic Office of the Tax Agency, needing a mandatory electronic certificate for limited and limited companies, large companies and attached to the Central Delegation of Large Taxpayers and Public Administrations or also through Cl @ ve PIN for natural persons. You can access directly here.
You must click on Presentation exercise 2017 for model 347 and identify yourself.
How is it filled?
The statement will break down the information about these operations on a quarterly basis. For each quarter we will count an amount of purchases or sales accounted for according to the criteria of the VAT Law.
In this page we will identify with our NIF, denomination as well as we will add the summary of the operations and their amount.
As for the Complementary Declaration box, it must be marked when certain perceptions have not been included in the previous declaration. On the contrary, you must mark Substitute Declaration when the data are erroneous in the declaration before the exercise.
On the second page, in addition to re-identifying with our NIF and the year (year). We will indicate the information of the declared ones, that is, the suppliers or clients.
As for the key, most of the cases will be A or B.
[C] Collections for third parties over € 300.51
[D] Acquisitions outside the business activity by Public Entities
[E] Subsidies or grants (Exclusively for Public Administration)
[F] Sales of travel agencies
[G] Purchases from travel agencies
On the third page, it must be filled out exclusively by the lessors of business premises. In it we will detail the information of the leasing operations, of the different rents of business premises or offices, provided that the annual amount exceeds € 3,005.06.
As for the situation, we will insert a "1" for the premises in Spain (with the exception of Navarra and the Basque Country), a "2" for the premises in Navarra and the Basque Country, a "3" if they do not have cadastral reference and a "4" for the premises outside of Spain.
Once you have filled in all the information, click Sign and Send.
Likewise, the Tax Agency has created a help program so that you can complete without any problem the model 347 that you will find here.
If the 347 model is not presented, a tax infraction will be incurred, foreseen in the General Tax Law 58/2003, this being a monetary sanction with a minimum of € 300 and a maximum of € 20,000.
The Model 347 allows the State Administration to cross information on all types of operations. If possible differences are detected, an inspection procedure can be initiated. That is why it is advisable to contrast the volume of transactions and amount with your customers and suppliers.