Quarterly declaration of VAT – modelo 303

Whether you are self-employed, as a professional or if you have your own company, it is very likely that you are at that moment of filing the quarterly VAT return. The aforementioned who carry out an economic activity and operations subject to VAT are subject to this declaration.

Likewise, landlords and property developers would also be required to present them.

This VAT return, which is an indirect tax and therefore falls on the consumer, you only act as a mere "collector" for the Tax Agency. Model 303 of quarterly declaration of the Value Added Tax for which you will have to pay the Tax Agency the difference between the VAT that you have passed on your sales or service invoices and the one that you have borne on your expense invoices (suppliers, etc). And the fact is that that additional percentage that you include in your invoices in the form of VAT does not belong to you. You only act as an intermediary, since you are collecting it on behalf of the Treasury. This will later claim it from you through the presentation of form 303.

The model to present for this quarterly return would be model 303. The companies, as we mentioned above, are simply in charge of collecting VAT amounts for the Treasury through their clients (who buy or acquire their services).

This model is divided into 8 sections and has more than 75 boxes.

Structure of the model: the model is made up of two large sections. On the one hand, the accrued VAT, that is, all those invoices issued that present VAT. And on the other hand, the input VAT (all those invoices received from third parties like vendors and including VAT). The difference between one and the other will roughly determine the quote to be presented (which may be to declare, zero, to be refunded).

Necessary to fill in the form: it is essential to have at hand all the income and expenses incurred in said quarter. Keep in mind that if an invoice is dated from the 1st quarter, but its collection has not yet taken place, the same by the law will belong to the VAT declaration of the 1st quarter. It is convenient to distinguish between invoice dates and collection or payment dates (which would not apply in this model).