This Tuesday, February 28, is the last day for self-employed workers to present model 347 at the Tax Agency. This form is the annual statement of operations with third parties and is used by the Treasury to match data from suppliers and customers with the operations carried out by freelancers and professionals. It is a purely informative document and does not entail any type of payment, as is the case, for example, with quarterly VAT returns.
In the case of being obliged to present this form and not doing so, the professional faces sanctions of between 300 euros and 20,000 euros, depending on the seriousness and the data that is missing to be declared. determined based on the lack of data that remains to be included. In addition to avoiding fines, filing Form 347 prevents the Treasury from performing an inspection on the business or the accounts of the self-employed person.
However, there is no need to panic. Form 347 can be submitted after the deadline. As it is an informative return, the taxpayer must pay a surcharge of 20 euros for each data or set of data referring to the same person or entity that has been omitted or submitted after the deadline.
To file it, you have to go to the electronic office of the AEAT, enter the Filing of returns menu, taxpayer calendar and click on All returns by model. There we will find the 347, click and fill in all the necessary data before clicking again on submit.
Which self-employed are obliged to present the 347 model
Those who are required to submit form 347 are natural or legal persons, public or private, and entities that carry out professional or business activities that exceed the figure of 3,005.06 euros including VAT. This amount refers to annual income, not monthly. The figure is reduced to 300.51 euros when they are income from professional fees or intellectual, industrial or copyright property rights.
Both clients and suppliers are obliged to present the 347 with the objective that the Treasury can carry out the corresponding data crossing and verify the connection between those declared.
Which self-employed workers are exempt
As happens in most cases, there are certain exceptions to avoid having to present the 347 model to the Treasury, in addition to those that do not exceed that limit of 3005.06 euros per year. They are the following:
33.2 of Royal Decree 1065/2017. The taxpayers who have to report on the operations registered in the VAT Book.
