Organisations under the income allocation system

Obligations of the entity

• Submit census returns for:

  • register in the census and obtain the NIF

  • submit the declaration of cessation

  • renounce the objective estimate, the simplified direct estimate, the simplified VAT or revoke the waivers

  • make any necessary changes to the declarations submitted.

• Keep accounting and/or record books that are mandatory for the activity they carry out.

• Issue invoices.

• Make withholdings or deposits on account.

• Determine the attributable income and payments on account.

• Submit VAT declarations.

• Submit declarations of transactions with third parties (Form 347).

• Submit, during the month of January, the annual information declaration (Form 184):

  • when they carry out an economic activity

  • or when income exceeds €3,000 per year.

• Notify its members in writing, within one month from the deadline for submitting Form 184, of the following information:

  • the total amount of income obtained by the entity and the income attributable to each of its members

  • the bases of deductions

  • and the amount of withholdings and payments on account borne by the entity and those attributable to each of its members.