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Form 347: Operations With Third Parties In Spain

Tax formsTax Agency (Hacienda)

form 347

If you are an entrepreneur, self-employed, or intend to be, you have undoubtedly heard of form 347 for operations with third parties in Spain. And do you know what it comprises and who must present it? 

In our article today, we explain all these issues in detail.

What is form 347?

Form 347 is the annual tax form for operations with third parties, for operations with a client or supplier that have exceeded €3,005.06. 

It is an informative statement. That means you don’t have to pay taxes for it. And keep in mind that your customers and suppliers must also do it if they meet specific requirements that we will see next.

Who is required to submit form 347?

All individuals (self-employed) or legal entities, public or private, who carry out business or professional activities must submit an annual declaration (form 347) listing all their operations with third parties over €3,005.06.

Certain exceptions are:

– those who have the headquarters of their activity outside of Spain

– If you have already declared these amounts through another tax form throughout the year. For example, suppose your activity is subject to withholding, and your client enters the withholdings in your name. In that case, the Treasury already has the data crossing between what you declare and your client.

What operations do you have to declare in form 347?

The operations that are declared must always have exceeded €3,005.06 and can be:

– subsidies and non-refundable aid

– operations of insurance

– advances to customers and suppliers

– leases that are not subject to withholding

– real estate operations

– deliveries and acquisitions of goods and services

Dates of filing form 347

Until 2012, the deadline for filing this declaration had been March. As of 2013, the Tax Agency brought it forward to February. This advance of dates helps the self-employed have the entire month of January to meet their quarterly tax obligations (303, 130, 111, 115, 349,…) and annual ones (390, 180, 190,…), and from February 1st is the start of the deadline to fill in form 347.

In practice, filling in this form generates many checks. Taxpayers often contact their suppliers to verify that the volume shown on their accounts is correct. Otherwise, they should make the corresponding corrections.

Thus, the deadline to present your model 347 ends on the last day of February, this being a business day. If the 28th falls on a Saturday, the last day of the presentation would be Monday, March 2nd.

If you want to know more about the deadlines for this year, consult our Fiscal Calendar for this year.

What happens if I file form 347 with errors or I don’t file it?

Here, the Treasury will sanction you. The sanction is applied for each data not presented or presented with errors. For example, you forget to add a provider, so that would be a missing piece of information.

The amount of sanction applied varies from €300 to €20,000. Of course, suppose you realize in time and present a complementary declaration before the requirement of the Treasury arrives. In that case, the sanction is reduced by half. See more about penalties in this article.

You already know what form 347 comprises. It is important to pay attention not to forget any client or supplier.

On the Selfemployed Spain’s platform, you have all the operations with your clients and suppliers that exceed €3,0005.06. Look at the Forecast section of form 347 in your customer profile!

An example of form 347 on our platform for 2023 financial year.

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