Form 347 is an Annual Information Statement of the operations with third parties that have been carried out during the fiscal year. Business people and professionals are obliged to file this form whenever they have carried out transactions with third parties for an amount exceeding 3,005.06€ during the calendar year. Separately computing deliveries and acquisitions of goods and services.
This model is presented in the month of February of the following year. Specifically for this year the deadline for presentation is the 2nd of March 2020 (02-03-2020).
Although there are no new developments with respect to the previous year’s declaration. However, it is convenient to review some important details, which from our Tax Consulting Department we comment below.
Form 347 Annual Information Statement. Modifications for 2014.
Subjective Scope
- Communities of property under the horizontal property regime, as well as certain entities or establishments of a social nature, are included as obligated to present the declaration for the general acquisition of goods or services that they carry out outside of their business or professional activities. Even if they do not carry out activities of this nature.
- In the case of horizontal property entities, the information will be provided on an annual basis. Operations that will not be included in the annual declaration by these entities will be:
- The supply of electrical energy and fuel of any kind for Community use and consumption.
- The supply of water for community use and consumption.
- Those derived from insurance that has the objective of insuring goods and rights related to common areas and elements.
- The operations that will not be included in the annual declaration by the private entities or establishments of a social nature (art.20.3 Law 37/1992) will be
- Those of water, electricity and fuel supplies.
- Those derived from insurance.
- Taxable persons under the simplified VAT system must provide information not only on the transactions for which they issue an invoice, but also on those for which they receive an invoice and which are entered in the Register of Invoices Received.
- The various public authorities must list all persons or entities to whom they have paid subsidies, assistance or aid, regardless of the amount involved.
- Form 347 does not include leasing operations of urban properties that are business premises and are subject to withholding (since since 2014, Form 180 includes the cadastral and identification data of the properties).
Content of the declaration
- They should be recorded separately from other operations:
- Operations included in the special regime of the cash criterion. The information will be provided on an annual basis.
- Transactions where the taxable person is the recipient of the transaction (reverse charge)
- Transactions subject to and exempt from VAT, relating to goods linked or intended to be linked to the warehousing arrangements other than the customs arrangements.
Form of presentation
- In general, telematically at the Electronic Headquarters of the A.E.A.T. with a digital certificate recognized by the latter.
- The presentation can be made by sending an SMS message for the declarations of the Form 347 corresponding to communities of owners that include up to 15 records.
- The restriction that existed regarding the number of records for the presentation of informative declarations by individuals using the CL@ve PIN24H system has been eliminated.
Other questions of interest
- The information on transactions to be listed in the annual declaration shall be provided on a quarterly basis, except for the information on amounts received in cash, which shall continue to be provided on an annual basis.
- Taxable persons registered in the Monthly VAT Return Register (REDEME) who have filed Form 340 will not have to file Form 347.
- The transactions will be understood to have taken place in the period in which the record entry of the invoice or substitute document that serves as proof must be made. Previously they were understood to have taken place on the day the invoice was issued.
- It is compulsory to include subsidies, both received and granted. These will be taken into account when the corresponding payment order is issued and, failing that, when the payment is made.
- The Regulation requires that amounts over 6,000€ that would have been received in cash from each of the persons or entities listed on the declaration (or any other previous one) and the amounts received in consideration for the transfer of property be recorded separately.
- With respect to leases, they are only declared if they do not have a withholding and with the following particularities
- The lessors of business premises (those who collect the rent) must declare all the operations carried out separately and fill in the annex relating to this matter indicating the NIF and name of the lessee, the cadastral reference of the property and the amount of the rent on an individual basis as long as it exceeds 3,005.06€.
- Tenants of business premises (those who pay rent) will only have to declare the rent if it exceeds 3,005.06€.
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