In February of every year, all companies and autonomos need to file a tax return named 347, reporting transactions over 3.005 euros with the same client or supplier in the previous year.

If an autonomo or company has SOLD in one year over 3.005 euros of goods or services to the same client, the client´s name and exact figure invoiced needs to be reported.

In the same way, if an autonomo or company, has PURCHASED in a year from the same supplier goods or services over 3.005 euros, the supplier name and exact figure paid needs to be reported.

This amount is inclusive of VAT.

To correctly complete this tax return it´s crucial, as if there were omissions or discrepancies Tax agency will start an inspection.

The 347 return has to be filed on an annual basis, in February of each year.

Please note that this obligation is for autonomos and companies only, it does not affect non-business individuals.