Form 347 is an informative declaration in which the total annual and quarterly operations with third parties with an amount greater than 3,005.06 euros. Until a few years ago, this model was presented in March; In 2017 it was brought forward to February, but for 2018 will be anticipated again one more month, until January.
This represents a very significant increase in workload, especially if the company does not have an administrative department. Companies have to send invoices and these have to be received by customers. Afterwards, the delivery notes received must be balanced, they must be approve and account to declare them in the official models.
Taking into account that at Christmas many companies minimize their activity, many of these invoices will not arrive until the first weeks of January, insufficient time so that most companies can compare the information.
If we add to this that January is already a month with a high workload, by having to comply with other obligations (among others, the quarterly and annual settlement of VAT, the settlement of the installment payment of Personal Income Tax), the tax departments or the consultancies and offices that keep the company accounts are going to fume.
How to present model 347
In 2016, the submission period for model 347 was from February 1 to February 28. For 2018 it will be from January 1 to 31, as announced by the AEAT, with which the declarant will have less margin to compare the information with the supplier.
This model 347 It is one of those that provides the most information to the Treasury. It is necessary to carry out a direct relationship between client and supplier, both must declare the same amounts. If this is not the case, the Treasury sends a request to verify which figure is correct. This forces in many cases to exchange information between both, calls, emails, etc. since neither of them wants the Treasury to knock on their door.
The Treasury requires with model 347 to group operations by quarters and compile the information about cash payments. It is not a mechanical task, but with the data from our accounting system it is necessary to prepare it and present it through the AEAT aid program. It is necessary to relate a large number of people or entities because the minimum annual amount is 3,005 euros.
When: change in the fiscal calendar
As we have said, the Next January, the presentation of the model 347 of operations with third parties will be added to the rest of the models that companies or consultancies that carry out their accounting on their behalf already have to present. That is to say:
- Form 303 for quarterly VAT self-assessment and its equivalent but annual form 390.
- Form 130 for self-assessment of the fractional payment of personal income tax.
- Form 115, quarterly declaration of rental withholdings and its equivalent annual form 180.
- Quarterly Form 111 for withholdings for workers, professionals or businessmen, together with annual Form 190.
- Form 349 for intra-community operations and form 309 for VAT self-assessment of non-periodic intra-community operations with an equivalence surcharge.
- Model 368 for services provided electronically.
If we add to this that collating data from model 347 is not an automatic task, but in many cases it requires direct contact between the two parties involved in the operation, the discomfort generated in the sector by this advance is understandable.
Other changes to the 2018 fiscal calendar
But it is not the only change that the fiscal calendar will undergo in 2018. There will also be changes in:
- Model 171, annual informative declaration of impositions, dispositions of funds and collections of any document, which was previously presented in the month of March.
- Model 184, informative declaration for entities under the income attribution regime. Annual declaration, whose deadline until now was from February 1 to February 28.
- Model 345, informative declaration of plans, pension funds and alternative systems, social security mutual societies, insured pension plans, individual systematic savings plans, corporate social security plans and long-term care insurance. Annual declaration of participants and contributions. Until now the submission period was from January 1 to February 20.
- All of them are moved to the month of January, with the aim of standardize the deadlines for informative declarations and improve the quality of the data prosecutors. The truth is that for many companies and their consultancies it will mean working against the clock during this first month of the year.
Fountain: SAGE
