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What is model 347?

Model 347 or declaration of operations with third parties is an informative tax obligation that details the amount of operations carried out with clients and suppliers in excess of 3.005,06 euros per year.

Who is obliged to declare?

Natural or legal persons of a public or private nature, recumbent inheritances, communities of assets and other entities that, lacking legal personality, constitute an economic unit or a separate property subject to taxation, that carry out business or professional activities, with the exception of those who occasionally carry out deliveries of new means of transport exempt from VAT. The entities to which Law 49/1960, of June 21, on horizontal property is applicable (communities of goods under the horizontal property regime, communities of owners), as well as, the private entities or establishments of a social nature referred to in article 20. Three of Law 37/1992 of December 28, on Value Added Tax, will also include in the annual declaration of operations with third parties the general acquisitions of goods or services that they carry out outside of business activities orprofessionals, even if they do not carry out activities of this nature. Finally, taxpayers under the simplified regime of Value Added Tax, will include in the annual declaration of operations with third parties the operations for which they issue an invoice and those for which they receive an invoice and are noted in the Record Book of invoices. received.

Who is not obliged to present form 347?

  1. Those who are registered in the monthly VAT refund scheme (REDEME), since they are obliged to keep their VAT registration books through the AEAT electronic headquarters (they are included in the SII).
  2. Those who carry out business or professional activities in Spain without having in Spanish territory: • The headquarters of their economic activity • A permanent establishment • Their tax domicile
  3. Individuals or entities under the income attribution regime in personal income tax for activities under the objective estimation regime and simplified regime or special regimes of the equivalence surcharge, agriculture, livestock and fishing in VAT or the equivalence surcharge.
  4.  The taxpayers who have not carried out operations that as a whole with respect to another person or entity have exceeded the figure of € 3005,06 during the corresponding calendar year or € 300,51 during the same period, when in this case they perform the function collection on behalf of third parties of professional fees or other derivatives of intellectual or industrial property or those of the author.
  5. Taxpayers who have exclusively carried out operations not subject to the duty of declaration. 6. Entities under the income allocation regime established abroad, which do not have a presence in Spanish territory.

Operations with a third party to include

Taxpayers who have to present form 347, must list in their declaration all those persons or entities, whatever their nature or character, with whom they have carried out operations that as a whole for each of said persons or entities have exceeded the figure of 3.005,06 euros during the corresponding calendar year. For such purposes, deliveries and acquisitions of goods and services will be computed separately. The operations that must be included in the annual declaration of operations with third parties are the deliveries of goods and services, including, in both cases, both typical and usual operations as well as occasional ones and even real estate operations. It should be taken into account that these operations must be included whether or not they are subject to Value Added Tax and, in the first case, also those exempt from said tax. They should be reported separately from other operations

• Operations included in the special cash criterion regime. • Operations in which the taxpayer is the recipient of the same (investment of the taxpayer). • Operations subject to and exempt from Value Added Tax, relating to goods linked or destined to be linked to the deposit system other than customs. On the other hand, a new field of identification of the declared has been incorporated to consign the NIF-VAT in the case of entrepreneurs or professionals established in another Member State who do not have a NIF.

 Deadline for submission

During the month of February of the following year of the declaration period. In other words, the 2018 return may be submitted until February 28, 2019.


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