Form 347 is an annual informative form where the sum of purchase and sale operations carried out throughout the year with each supplier and client is specified, provided that such sum exceeds €3,005.06.

The tax authority uses this information to cross-reference data with other companies and detect possible discrepancies.

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Who is obligated to submit Form 347?

Entrepreneurs and professionals who have carried out operations exceeding €3,005.06 with third parties (a client or supplier) throughout the year must complete Form 347.

But there are some exceptions, let’s see what they are:

• Natural persons and entities in income attribution in Personal Income Tax, for activities that are taxed in Personal Income Tax under objective estimation and, simultaneously, in VAT under the simplified special regimes or agriculture, livestock and fishing or equivalence surcharge, except for operations for which they issue invoices.

• Those who have not carried out operations that as a whole, with respect to another person or entity, have exceeded the figure of €3,005.06 during the calendar year or €300.51 during the same period, when, in this latter case, they collect on behalf of third parties, professional fees or intellectual, industrial or copyright or other rights on behalf of their partners, associates or members.

• Those who have carried out exclusively operations not subject to the declaration obligation.

• Those who must report on operations included in the VAT registry books.

• Those who carry out business or professional activities in Spain without having in Spanish territory the headquarters of their economic activity, a permanent establishment or their tax domicile or, in the case of entities under foreign income attribution regime, without having presence in Spanish territory.

• Those who are obligated to keep the VAT registry books through AEAT’s electronic headquarters through Immediate Information Supply (SII).

Attention: If you are self-employed and have withheld Personal Income Tax on all your invoices, you will NOT have to submit Form 347.

In case you have not applied withholding on all invoices and have some client/supplier to whom you have invoiced more than €3,005.06 (taxes included) you must inform the tax authority through Form 347.

When do I have to submit Form 347?

You must submit Form 347 annually, specifically during the month of February of the following year.

For example, you must submit Form 347 for 2017 before the last day of February 2018.

Last update: 10.09.2018

We hope this information is very useful to you.