Form 347, declaration of operations with third parties

What is Form 347

Form 347 is an annual informative statement that includes the total of the operations carried out with clients and/or suppliers provided that all of them exceed 3,005.06 euros per year.

Who is required to file Form 347?

Entities without legal personality (that carry out the economic activity) and entities that carry out certain functions of collection by third parties.

Exempt from presenting it

In certain cases, when a collection function is carried out on behalf of third parties and the amount does not exceed € 300.51 per year.

• It has carried out operations with third parties, but they do not reach € 3,005.06 per year.
• It does not have a tax address or headquarters in Spain.
• Income tax for objective estimation and VAT for the simplified regime or equivalence surcharge.
• Operations not subject to this obligation in accordance with Art. 33.2 of Royal Decree 1065/2007.
• Taxpayers who have to report on transactions included in the VAT books, according to Art. 36 of Royal Decree 1065/2007.

How to fill in Form 347?

It is essential that the declarant confirms with customers and suppliers the amounts that both have posted. They must coincide unless the invoice is received in a quarterly period different from the date of issue, the moment that justifies the execution of the operation.

This year it is presented between February 1 and March 1.