Guide to Model 347: Annual Spanish Tax Form for Third Parties

Description

What is it?

Model 347 is a required tax form in Spain for declaring annual transactions with third parties that exceed €3,005.06 (including VAT).

Who needs it?

Businesses and self-employed individuals (autónomos) in Spain who engage in transactions with other parties, where the total annual transactions exceed €3,005.06, need to submit this form.

Procedure

1. Verify Threshold: Ensure that the total amount of transactions with any single entity exceeds €3,005.06.
2. Gather Transaction Data: Collect detailed records of all relevant transactions throughout the year. This should include invoices and payments received and made.
3. Access the Form: Obtain Model 347 from the official Spanish Tax Agency (Agencia Tributaria) website.
4. Fill Out the Form: Complete the required fields with precise information about the transactions. This includes details like the name, tax ID of the other party, and the total amount transacted.
   • Model 347 PDF
5. Submit the Form: Submit the completed form electronically through the Agencia Tributaria’s online platform.
6. Confirm Submission: After submission, ensure you receive a confirmation receipt from the Agencia Tributaria, indicating that your submission has been recorded.

Required Documents

• Invoices: Originals and copies of all invoices issued and received.
• Proof of Payments: Bank statements or receipts proving payment transactions.
• Tax ID Numbers: Tax identification numbers of all involved parties.
• Annual Transaction Report: A summary report detailing all transactions made with each entity.

Providers that can do it for you

(We are currently curating the best providers. If you are or know a provider, please contact us or edit the page directly)

Additional details

• Be aware that failing to submit Model 347 correctly and on time can result in penalties or fines.
• It is advisable to maintain clear and organized records of all transactions throughout the year to simplify the process of completing and submitting the form.
• Assistance from a professional accountant or tax advisor is recommended to ensure compliance with all requirements.

Related Posts

• Model 349: Spain’s Intra-Community Transaction Declaration Form
• Register as Self-Employed in Spain: Model 036 Explained
• Guide to Model 130: Quarterly Tax Form for Spain’s Self-Employed
• Model 720: Spanish Tax Declaration for Foreign Assets Guide
• Model 190: Guide to Filing Tax Withholdings in Spain