How to Calculate the 347 model with Odoo

In the following video, we will explain and share how to prepare, create, and review the 347 model of Odoo Community OCA that you can download from GITHUB . Remember that if you have an Odoo Enterprise Odoo. SH or On-Premise, you can install it at no cost on the server.

This manual for the 347 model of Odoo is based on the calculation of the 347 tax, which quickly and easily calculates the customers and suppliers that exceed €3,000 in total invoice (Base + VAT) during the previous year. This information can be communicated quickly and en masse to all our customers and suppliers for their review. 

We will also see how to prevent customers or suppliers that do not need to be declared in the 347 form, from being excluded from their contact record or from the invoice, facilitating the preparation of the tax in future years. It is important to remember that all customers, creditors, and suppliers in Odoo must always have the correct data of name, province, and NIF so that the 347 does not present errors. 

Once our 347 form is validated, we can generate the AEAT file to send it to the tax office and forget about this tax until next year, which is usually tedious but very easy to complete and validate with Odoo.

If you are a Contaldia client, remember that we calculate and submit the 347 form from your Odoo, to reduce errors and submit your taxes on time and correctly with your Odoo.

If you want to create and verify the 347 form using an Excel VAT book, because you have part of the invoices in a previous program or because you want to verify the data that appears in Odoo Enterprise, you can follow this tutorial to create a 347 form with your Excel VAT book from your Odoo.

What do I have to declare and how in model 347?

The information must be broken down by quarters; except for cash amounts received over 6,000 euros, which will continue to be reported annually.

The operations are understood to occur at the moment they must be recorded in the VAT registration books.

Amount to declare

The total amount of the consideration must be declared; in the case of operations subject to and not exempt from VAT, the quota for calculating the amount must be included, and if applicable, the equivalence surcharge quotas.

The total individualized amount must be declared net of returns, discounts, and granted bonuses.

1.- Not required to submit the model 347 declaration

• Those who have carried out operations that, in total, regarding another person or entity, do not exceed 3,005.06 euros annually.
• Those who have carried out collection operations on behalf of third parties for professional fees or rights derived from intellectual, industrial, or copyright property, or others on behalf of their partners, associates, or members, which in total, regarding another person or entity, do not exceed 300.51 euros annually.
• Individuals or entities under the income attribution regime in the IRPF for activities that are taxed under that tax by the objective estimation method and, simultaneously, in the VAT under the simplified special regimes or those of agriculture, livestock, and fishing or the equivalence surcharge, except for operations that are excluded from the application of the aforementioned regimes, as well as those others for which they issue invoices.
• Those who carry out business or professional activities in Spain without having their tax residence, the headquarters of their economic activity, or a permanent establishment here.
• Entities under the income attribution regime established abroad that do not have a presence in Spanish territory.

2.- Required to submit form 347

• Individuals or legal entities (both commercial companies and other entities) that engage in professional or business activities.
• Entities without legal personality mentioned in article 33 of the LGT. (communities of goods, inheritances in the process of settlement, civil societies, separated estates).

3.- Transactions to be declared in form 347

• The amounts of the deliveries of goods and services provided by the declarant as well as their acquisitions of goods and services, both from typical and usual operations as well as occasional ones and even real estate transactions, duly separated by clients or suppliers. For these purposes, all operations must be included even if they are not subject to or are exempt from VAT, as long as the amount exceeds 3,005.06 euros annually.
• Subsidies, aids, or assistance granted by entities integrated into public territorial administrations or institutional administration.
• Additional information must be included regarding amounts exceeding €6,000.00 that have been received in cash from each of the individuals or entities listed in the declaration.
• Additionally, complementary information must be provided regarding the amounts received in consideration for transfers of real estate, carried out or to be carried out, that constitute deliveries subject to VAT.
• Business premises landlords who have conducted operations that, in total, regarding the tenant, exceed the amount of 3,005.06 euros during the calendar year must report the cadastral reference number of the rented property (regardless of whether they have been subject to withholdings or not).
• Business owners under the Objective Estimation Regime (Modules) must declare the operations for which they issue invoices without withholding.
• The sale of a property or purchase of a property, including information in the property registry and amounts such as property transfers, if it is part of the main activity of the company, for example a "holding" or company that rents properties.
• Rentals of premises without withholding, adding the rental and property registry box.
• Purchases with investment by the taxpayer are declared based on the taxable base.
• The expenses for the renovation of an apartment by a company required to file form 347.

4.- They should not be declared in model 347.

• Residential rentals
• Rentals of premises with withholding
• Those operations in which they should not have issued and delivered an invoice or equivalent document. including the identification data of the recipient or they should not have signed the receipt issued by the purchaser under the special regime for agriculture, livestock, and fishing of VAT.
• Those operations carried out outside the business or professional activity of the taxpayer. The deliveries, services, or acquisitions of goods or services made free of charge that are not subject to or exempt from VAT.
• Deliveries, services or acquisitions of goods or services made free of charge not subject to or exempt from VAT.
• The leases of goods exempt from VAT. carried out byindividuals or entities without legal personality outside of any other business or professional activity. apart from any other business or professional activity.
• The acquisitions of stamped or stagnant effects and postage signs, except for those considered as collectibles.
• The operations carried out by entities or establishments of a social nature, as long as they correspond to the VAT-exempt activity.
• Imports and exports of goods, as well as operations carried out directly from or to a permanent establishment of the taxpayer, located outside Spanish territory, unless the taxpayer has its headquarters in Spain and the person or entity with whom the operation is carried out acts from an establishment located in Spanish territory.
• The deliveries and acquisitions of goods that involve shipments between the Spanish mainland or the Balearic Islands and the Canary Islands, Ceuta, and Melilla.
• In general, all those operations for which there is a periodic obligation to provide information to the state tax administration through specific declarations, in particular:
• Those whose consideration is subject to withholding or advance payment of personal income tax (IRPF) or corporate tax (IS ) that must be declared in the annual summaries 190, 180, 193, 296, etc.
• Operations with State Debt represented by account entries for which it is mandatory to provide information and, in general, those that have been subject to intermediation by a public notary, financial intermediaries, or management companies of collective investment institutions.
• Those that must be reported in relation to Pension Plans and Funds, their alternative systems, and Social Welfare Mutuals.
• Intra-community deliveries and acquisitions of goods and services and triangular operations that must be included in the model 349 summary declaration.
• Subsidies or compensations to farmers and ranchers, which must be declared in the annual subsidy declaration.
• The operations that have already been declared in the Informative Declaration of operations in books registration (model 340). Those required to submit model 340 must only declare the following operations in model 347:
• Subsidies, aids, or assistance paid or received.
• Leases of business premises.
• Amounts exceeding 6,000 euros that have been received in cash from each of the persons or entities listed in the declaration.
• Amounts received in consideration for transfers of real estate, made or to be made, that constitute deliveries subject to Value Added Tax.
• Collections on behalf of third parties for professional fees or rights derived from intellectual, industrial, copyright, or other property on behalf of their partners, associates, or members made by companies, associations, professional colleges, or other entities that, among their functions, carry out collections as provided in article 31.3 of the RGAT, provided that the total amount paid to each person exceeds 300.51 euros.
• Insurance companies must report insurance operations.
• Travel agencies will report the services provided in which they act as intermediaries on behalf of others that meet the requirements referred to in the fourth additional provision of the Regulation governing invoicing obligations, approved by Royal Decree 1496/2003, of November 28.
• They will also record the mediation services provided on behalf of others related to passenger transport services and their luggage that the travel agency provides to the recipient of such transport services, in accordance with the provisions of section 3 of the aforementioned fourth additional provision.
• The operations for which the agricultural, livestock, or fishing receipt has been issued, as referred to in article 14.1 of the Regulation governing invoicing obligations.
• The operations subject to the Tax on Production, Services, and Imports in the Cities of Ceuta and Melilla.
• Those required to submit model 340 should not break down quarterly in model 347 the information we have just detailed above, but should report it by grouping the total operations carried out during the year in the box corresponding to Q4, or in the quarter in which all have occurred.

5.- Other aspects to highlight

• REIMBURSEMENTS: The amount of reimbursements should NOT be included, as they are not acquisitions of goods or services by the entity managing the transaction but by the final client who must file the declaration.
• RENTAL OF HOUSING: They should not be included in the declaration to the extent that no invoice has been issued for them, as these are rentals exempt from VAT.
• RENTAL OF PREMISES SUBJECT TO WITHHOLDING: As we have already warned, they should only be declared by the landlord when the transactions with the tenant exceed 3,005.06 euros.
• RENTAL OF PREMISES NOT SUBJECT TO WITHHOLDING: must be declared by the landlord and the tenant in the case that the transactions between them exceed 3,005.06 euros.
• ADVANCES FROM CLIENTS AND SUPPLIERS: constitute transactions that must be included in the 347. When the transaction is carried out later, the total amount must be declared reduced by the advances already declared.
• LEASING TRANSACTIONS: the amount of the fees paid annually must be declared. When the commitment to exercise the purchase option is formalized, the remaining amount to be paid must be declared.
• PURCHASE OF HOUSING FROM A NATURAL PERSON (INDIVIDUAL): If the purchase is made from a natural person who is not a business or professional, this transaction does not need to be declared in the 347 as this individual should not have issued an invoice for this sale.
• PURCHASE OF HOUSING OR PREMISES FROM A BUSINESS OR PROFESSIONAL: an invoice must be issued for this transaction and therefore must be declared in form 347.
• SALE OF HOUSING OR PREMISES BY A BUSINESS OR PROFESSIONAL: Whether the recipient is a natural person or a business or professional, in both cases an invoice must be issued and consequently, they must be declared in form 347 (in the case of two buyers, the proportional part must be attributed to each of them).
• TRANSACTIONS WITH NON-RESIDENTS OF THE EUROPEAN UNION: Services provided to non-residents will be included in form 347, regardless of the place of realization of the taxable event for VAT purposes. If a NIF issued by the Spanish Tax Agency is not available, the one issued by the tax authority of their country will be recorded, if known.
• TRANSACTIONS WITH NON-RESIDENTS OF THE EUROPEAN UNION: Services provided to non-residents must be included in form 347, regardless of where the taxable event occurs for VAT purposes. If a Spanish Tax Identification Number (NIF) issued by the Spanish Tax Authorities is not available, the NIF issued by the tax authorities of the non-resident's country must be entered, if known.
• Transactions for services received from non-residents will be included in form 347, regardless of the location where the taxable event occurs for VAT purposes, except for those that should be included in the annual summary declaration form 296.

Do you have questions?

Watch the video and optimize the use of the AEAT 347 form in Odoo accounting

Contact us now