What is Form 347 and what is the deadline for filing it?
Form 347 is known as the annual declaration of transactions with third parties and its purpose is to inform the Tax Agency about purchases and sales exceeding €3,005.06 made during the previous year. Unlike forms 303 or 130, which may result in payments or refunds, form 347 is used exclusively to provide information to the Inland Revenue about transactions carried out by self-employed workers.
In this form, all transactions exceeding €3,005.06 must be declared, with the exception of:
- Operations carried out by entities of a social nature, such as those linked to assistance to the elderly.
- Rentals of goods not subject to VAT.
- Transactions without invoice or without identification of the recipient.
The obligation to file form 347 applies to self-employed persons whose quarterly tax returns exceed €3,005.06. For this reason, this form is often referred to as the “€3,000+ return”. All self-employed workers, both those who opt for direct and simplified estimation (modules), must file form 347 if they meet the following condition:
Purchases or sales made in the previous year to the same customer or supplier must exceed €3,005.06 (without applying personal income tax to your invoices).
The period for filing form 347 runs from 1 February to 28 February, giving you the whole month to file.
This deadline can only be extended in situations where technical difficulties prevent submission by electronic means. In such circumstances, up to 4 additional days after the original deadline would be granted to complete the submission of the model.
- If you are a lessee, you do not have to include the rental of the premises in form 347, because you will have already reported this operation in form 180 (provided that the invoices are subject to personal income tax or corporate tax withholding, and are also subject to VAT).
- If you are a lessor and you also include the transactions in form 180, you should not include these transactions in form 347 either.
