Model 349, also known as the Recapitulative Declaration of Intra-Community Operations, is a crucial tax form in the field of international business in the European Union. In this blog, we will explore in detail Form 349, its purpose, how it is completed and filed, and answer frequently asked questions so you can approach this aspect of tax management with confidence.
1. What is Model 349?
Form 349 is a tax information return that must be submitted by those entrepreneurs or professionals who carry out operations with other companies or professionals located in different countries of the European Union. Its main objective is to collect information on intra-community operations subject to VAT.
2. Who must submit Form 349?
Entrepreneurs and professionals who carry out the following operations will be required to present the Recapitulative Declaration of Intra-Community Operations:
Deliveries of goods destined for another Member State subject to the Tax.
Intra-community acquisitions of goods subject to the Tax made by persons or entities in the territory of application of the Tax.
Deliveries subsequent to intra-community acquisitions of goods mentioned above.
Intra-community provisions of services subject to tax.
Intra-community acquisitions of services subject to the tax.
Transfers of goods dispatched or transported from the territory of application of the Tax to another Member State within the framework of consignment sales agreements of goods.
3. When is Form 349 presented?
This recapitulative statement can be presented in two ways: monthly or quarterly.
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In the case of the monthly presentation: This recapitulative statement will include the operations carried out in each calendar month, and will be presented, in general, during the first twenty calendar days of the month immediately following the corresponding monthly period, except for the one corresponding to the month of July, which may be presented during the month of August and the first twenty calendar days of the month of September, and that corresponding to the month of December, which must be submitted during the first 30 calendar days of the month of January.
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In case of quarterly presentation: It must be submitted during the first twenty calendar days of the month immediately following the corresponding quarterly period, except for the last quarter of the year, which must be submitted during the first thirty calendar days of the month of January.
When during the reference quarter and in each of the four previous calendar quarters the total amount of the deliveries of goods and services that must be included in the declaration does not exceed 50.000 euros, excluding VAT, must be submitted during the first twenty calendar days of the month immediately following the corresponding quarterly period, except for the last quarter of the year, which must be submitted during the first thirty calendar days of the month of January.
If at the end of any of the months that make up each calendar quarter more than 50.000 euros, a declaration must be submitted for the month or months that have elapsed since the beginning of said calendar quarter during the first twenty immediately following calendar days, in accordance with the following criteria:
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a) If more than 50.000 euros are exceeded in the first month of the calendar quarter, a monthly statement must be submitted including the operations carried out in said month.
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b) If more than 50.000 euros are exceeded in the second month of the calendar quarter, a monthly statement must be submitted, which will include the operations corresponding to the first two months of the quarter and will include a mark indicating that it is a truncated quarter.
4. How is Form 349 Completed?
The process of completing Form 349 may seem complicated, but with a clear understanding, it becomes more manageable. Here are some essential steps:
Declarant Identification: In this section you must provide your identification data, including name or company name, NIF (Tax Identification Number).
Exercise: Period and type of presentation.
Intra-community operations: Details the intra-community operations carried out during the quarter. This includes information about customers and suppliers, as well as the total amount of transactions.
Breakdown of Operations: Classifies operations according to different criteria, such as intra-community acquisitions, intra-community deliveries and other specific concepts.
Declaration Summary: This section is where the total number of intra-community operations is indicated. The total amount of intra-community operations must be calculated, check that they match the information provided in the declaration and, where appropriate, make any necessary corrections.
Date and signature.
Electronic Presentation: It is recommended to file electronically through the electronic headquarters of the Tax Agency.
5. What happens if I do not file Form 349 on time?
Submitting the model after the deadline may result in a sanction or a requirement for it. The fine will be a minimum of 300 euros and a maximum of up to 20.000 euros. If the error is notified to the Treasury before they issue a request, the fine is reduced by half.
6. Can I correct errors in Form 349 after submitting it?
Yes, you can file a supplemental return to correct errors at any time within four years from the end of the settlement period to which the initial return relates. There may be penalties and interest associated, depending on the nature and severity of the error. Therefore, it is advisable to correct any errors as soon as possible.
7. What supporting documentation should I keep?
You must keep all documentation related to intra-community operations, such as invoices, contracts, agreements, customs documentation, payment receipts and any other supporting document that can demonstrate any declared operation.
Form 349 is a vital tool for those carrying out commercial operations within the European Union. Complying with the obligations associated with this form is essential to avoid sanctions. It is always advisable to have the advice of a tax professional to ensure that it is completed correctly and thus that all tax obligations are met.
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