Spain Modelo reporting documentation update note, Release 11i (Doc ID 1288794.1)

Last updated on JULY 28, 2022

Applies to:

Purpose

This documentation update note applies to Oracle Financials for Spain, Release 11i (Release 11.5.10) and includes information about the Spanish Modelo Reports:

Spanish Authorities have implemented changes to the modelo reporting affecting current Modelo 347 and Modelo 415 Declarations and they introduced the Modelo 340 Declaration file.

Modelo 347 has traditionally been applicable to all companies that have a payables or receivables turnover with any given party over 3.005,06 euros. Since December 30, 2008, rules for presenting this electronic file have been changed and are not applicable to our entire installed base, as previously. As specified on the publication of the law in the Official State Bulletin, on December 30, only companies that meet one of the following conditions must deliver this electronic file:

• If the first party has received any type of grant, aid or financial assistance from a public institution

• Insurance companies

• Travel Agencies

• If the first party has rented out business space in a given period

• If the first party you has received cash > 6,000 euros from a third party in a given period

• If the first party has sold property subject to VAT in a given period

The Domestic Turnover Declaration, also known as Modelo 415, is applicable to customers operating in the Canary Islands and subject to the Canary Islands Tax Regime, known as IGIC. There have been changes to the file layout and Travel Agencies are required to identify their transactions separately.

The Modelo 340 Declaration file is a periodic reporting file that displays information from several sources: Invoices that have been Issued, Invoices that have been Received, Transactions pertaining to investment goods, and Inter EU transactions. This file is applicable to all entities in Spain. Those companies performing the monthly VAT reporting in order to collect their VAT return on a monthly basis (instead of the traditional yearly mode) shall be required to deliver this report to the Tax Authorities by February 20 (deadline for delivering January’s tax return.)

Scope

Intended Audience:

• Spanish customers

Details

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