FAQs

The month of February.

From the tax return for 2018, to be filed in 2019, the filing date will be February.

No, they are excluded from this obligation.

It will be supplied in general quarterly breakdown, except for the following:

• To amounts received in cash, which will continue to be provided in annual terms.

• To amounts declared by taxpayers carrying out transactions to which the special cash criterion regime of the Act applies 37/1992, of 28 December, on Value Added Tax and, the entities to which Act 49 applies / 1960, of 21 July on horizontal property, which are obliged to supply all the information that are required to relate in their annual tax return, on an annual basis.

• To amounts declared by taxpayers who are the recipients of the transactions included in the special cash criterion regime, who will be obliged to supply the information corresponding to these transactions on an annual basis.

No.

With regard to the information corresponding to the 2016 and previous financial years, taxpayers registered in REDEME were not obliged to file form 347 as they were obliged to file form 340.

With regard to the information corresponding to the 2017 and following financial years, taxpayers registered in REDEME are not obliged to file form 347, since they are obliged to keep their VAT Record Books through the Tax Agency's E-Office. (Included in the SII)

A taxpayer who ceases to be in REDEME with effect from 1 July 2017, and also from this date no it incurs in no other circumstance to be included in the obligation to keep the VAT Record Books through the Tax Agency's E-Office ( it is not included in the SII), it will have the following formal obligations with respect to the 2017 financial year:

• With respect to the first half of 2017, you have the obligation to file form 340.
• With regard to the second half of 2017, you may be required to file form 347, in accordance with Articles 31 to 35 of Royal Decree 1065/2007 of 27 July. The calculation of the amounts of this obligation, in general, 3,005.06 euros, must be calculated with respect to the entire financial year. So, form 347 must include all transactions that do not match those already declared in form 340. (If form 340 related transactions with a third party that only took place during the period in which these declarations were filed, they will not have to be listed in form 347.)

In these cases, the exemption of Form 390 does not operate.

The transactions will be understood to be those occurring during the period in which the registry entry of the invoice that serves as a supporting document must be made.

• In invoices issued, they must be recorded at the time that the tax corresponding to these transactions is settled and paid.

• In the invoices received, they must be recorded in the order received and within the settlement period in which they should be deducted.

However, transactions to which the special cash basis regime applies will also be recorded in the calendar year corresponding to the moment of total or partial accrual in accordance with the special accrual rule of this special regime.

Yes. If the invoice is received by the customer and recorded in a quarterly period other than the invoice's issuance by the supplier, differences will arise.

Example: Company X sold to Y for an amount of 10,000 euros on March 20, 2014. The company Y received the invoice on 30 April and registered it in the book of invoices received on that date.

In 347 of X, the indicated operation must be included, with the code "B," in the box corresponding to 1T and in 347 of Y, with the code "A" in the box corresponding to 2T.

These modifying circumstances must be reflected in the calendar quarter in which they have occurred, provided that the result of these modifications exceeds, together with the rest of the transactions carried out with the same person or entity in the calendar year, the figure of 3,005.06 euros.

Example 1: In January 2014, the company X (not a large company) sold to Y for an amount of 4,000 euros. After 6 months X has not collected this amount, so it carries out the necessary procedures to modify the taxable base in the last quarter of 2014. How do you declare these transactions in 347? You must not file form 347 because the annual amount of the transactions, at absolute value, is less than 3,005.06 euros:

Annual amount of the transactions = 0 = Sale (4000)-Modif. BI (- 4,000)

Example 2: In December 2013, entity X sold to Y for an amount of 20,000 euros. In the first quarter of 2014, entity X receives a return of goods from the previous sale for a value of 4,000 euros. How do you declare these transactions in 347? In this case, the transactions must be declared in 347, as it takes into account the fact that the absolute value of the transactions carried out in the same calendar year exceeds 3,005 euros. 06

Fiscal year 2013: Code "B."

Annual amount of transactions = 20,000 euros

Amount 1T = 0

Amount 2T = 0

Amount 3T = 0

Amount 4T = 20,000

Fiscal year 2014: Code "B"

Annual amount of transactions =-4,000

Amount 1T =-4,000

Amount 2T = 0

Amount 3T = 0

Amount 4T = 0

Yes. As long as the annual amount of the operations exceeds €3,005.06, in its absolute value (without sign). This amount will be stated in the tax return with a minus sign.

They must be declared in the same register as the other transactions, but separately in the boxes corresponding to the quarterly and annual amounts received from transactions corresponding to transfers of properties subject to VAT.  

In the boxes corresponding to Annual amount of transactions and quarterly amount of transactions, the amount of transactions including transfers of real estate, but excluding amounts of insurance transactions (insurance companies) and leases that must be recorded in a separate register.

Taxpayers subject to the special cash criterion regime must report transactions subject to the special cash basis regime in accordance with the general accrual rule and also in accordance with the special accrual rule of the special regime.

In addition, all the information that is required to be supplied in the tax return must be provided on an annual basis.

Example:Supplier X is subject to the new VAT scheme in 2014. In February 2014, it issued 1 invoices to company X for an amount of 4,000 euros. In November 2014, company X pays you 2,500 euros, with a pending payment of 1,500 euros, which will be paid in 2015. How does supplier X declare these transactions in 347?

In 2014:

"Transaction password" = "B."

"Cash VAT transaction."

"Annual amount of transactions" = 4,000 euros.

"Annual amount of transactions accrued using VAT on cash basis" = 2,500.

In 2015:

"Transaction password" = "B."

"Cash VAT transaction."

"Annual amount of transactions" = 0 euros.

"Annual amount of transactions accrued using VAT on cash basis" = 1,500.

The taxable persons receiving the transactions included in the

Special cash basis regime must report these fees in accordance with the general accrual rule and also in accordance with the special accrual rule of the special regime.

In addition, information on these transactions included in the special cash criterion regime must be provided on an annual basis.

Example:Business owner X is a lessee of a business premises to company Z, which was included in the 2014 financial year under the special cash criterion regime. The annual rent for 2014 amounts to 10,000 euros, which are paid in full by businessman X in the same financial year 2014. How does businessman X declare these transactions in 347?

In 2014:

"Transaction password" = "A."

"Cash VAT transaction" and "Local Business Lease"

"Annual amount of transactions" = 10,000 euros.

"Annual amount of transactions accrued using VAT on cash basis" = 10,000 euros.

From 2014 onwards, the entities to which Act 49/1960 of 21 July on ownership applies horizontal, they must also report on their annual declaration of transactions with third parties of the general acquisitions of goods or services that they carry out, regardless of business or professional activities, even if they do not carry out activities of this nature.

These companies must report all their transactions on an annual basis.

Example: The H owners'association does not carry out any business or professional activity. During 2014, reforms were made in the common areas for the amount of 20,000 euros. In addition, fuel costs for 2014 amount to 40,000 euros. How should you find out about these transactions in the Declaration?

Fiscal year 2014:

For reform operations, a declaration must be filed:

"Transaction password" = "D."

"Annual amount of transactions" = 20,000 euros.

For fuel costs, no information should be provided, since it excludes the obligation to report on electricity, water and fuel supply operations, provided that their destination is the use and consumption of the electricity and fuel. Transactions derived from insurance are also excluded, the purpose of which is to insure goods and rights related to areas and common elements.