Who should file form 347? Complete guide

What is Form 347?

Form 347 is an annual informative declaration that must be submitted by companies, freelancers and entities that have carried out transactions with third parties for an amount exceeding 3,005.06 euros during the calendar year. Its main objective is to provide the Tax Agency with detailed information on commercial transactions, allowing for greater fiscal control and transparency in economic relations.

Main characteristics of form 347

• Informative declaration: It does not involve the payment of taxes, but it is compulsory for certain taxpayers.
  
  

• Annual submission: It is submitted once a year and includes all transactions from the previous tax year.
  
  

• Declaration limit: Only transactions with the same third party that exceed 3,005.06 euros (VAT included) are included.
  
  

• Online obligation: It must be submitted exclusively through the Tax Agency’s Electronic Office.
  
  

This form allows the tax authorities to cross-check information between taxpayers, verifying the consistency of the data and preventing possible fraud or tax irregularities.

Who must submit form 347?

Form 347 is mandatory for individuals and legal entities that have exceeded the threshold of 3,005.06 euros in transactions with the same third party during the tax year. This includes:

Subjects required to file form 347

• Self-employed and companies: As long as they maintain commercial transactions with third parties that exceed the established limit.
  
  

• Non-profit organizations and homeowners’ associations: If they have carried out transactions subject to declaration.
  
  

• Liberal professionals: Lawyers, architects, consultants and other professionals who invoice more than 3,005.06 euros to the same client or supplier.
  
  

• Landlords of real estate: If they have received rental income that exceeds the declaration threshold.
  
  

• Public administrations: This includes town halls and official bodies that make purchases or contracts for goods and services.
  
  

It is important to remember that it is not only those who sell products or provide services who must declare, but also those who receive goods or contract services that exceed the stipulated limit.

Who is exempt from submitting form 347?

Not all taxpayers are obliged to submit form 347. There are exceptions according to current regulations. Find out who is exempt from submitting this form:

Taxpayers exempt from submitting it

• Companies and self-employed persons covered by the SII (Immediate Supply of VAT Information): Their transactions are already reported in real time to the Tax Agency.
  
  

• Taxpayers who have only carried out VAT-exempt transactions: Such as activities related to health, education or financial services.
  
  

• Self-employed workers under the objective estimation system (modules): Provided that they have not carried out transactions outside this system.
  
  

• Transactions already declared in other tax forms, such as:

• • Form 180 (withholdings on urban leases).

• • Form 190 (income tax withholdings from workers and professionals).

• • Form 349 (intra-community transactions).

• • Forms 303 and 390 (VAT returns).
    
    

It is crucial to check whether transactions have already been reported on another form to avoid errors or duplication.