“Form 347 is an annual informational declaration that self-employed individuals and businesses in Spain must submit to report transactions with third parties that exceed 3,005.06 € (including VAT) in a calendar year.

Business owners and professionals who carry out economic activities and have, in total, conducted transactions with another person or entity exceeding 3,005.06 € in the calendar year are required to submit Form 347. It must also be submitted by social entities or establishments and property communities for the acquisition of goods and services exceeding this amount.

Form 347 is submitted in February, reporting the transactions carried out during the previous year.

The submission of Form 347 is done online, using an electronic certificate for companies and large businesses, or through the Cl@ve system for individuals.

Form 347 must include all transactions with third parties that exceed 3,005.06 € in the calendar year, detailing the total amount of transactions carried out with each client or supplier.

Individuals and entities under income attribution in the Personal Income Tax (IRPF) who are taxed under objective estimation and special VAT regimes are not required to submit Form 347, except for transactions for which they issue invoices. Those who have not carried out transactions exceeding 3,005.06 € during the year are also exempt.

Form 347 allows the Tax Agency to compare the data declared by taxpayers with that of their clients and suppliers, thus ensuring the consistency and accuracy of the tax information.

Yes, in Form 347, transactions must be detailed on a quarterly basis. This means that, in addition to reporting the total amount of annual transactions with each client or supplier, the amount of transactions carried out in each quarter of the year must also be broken down.

No, reimbursed expenses are not included in Form 347. Reimbursed expenses are costs that a professional or business pays on behalf of their client and are later reimbursed. These are not considered the economic transactions of the professional or business, but rather those of the client.

Yes, transactions with insurance entities must be included in Form 347. Insurance entities must separately report the insurance premiums received and the compensations or benefits paid in the course of their insurance activity. These transactions should be declared separately by marking the corresponding ‘insurance transaction’ box on the form.