The Spanish Tax Agency has introduced changes to the VAT self-assessment forms, specifically forms 303, 322, and 390. These modifications, applicable as of January 1, 2025, aim to adapt tax regulations to economic and legislative changes, making tax compliance easier.
These forms are essential tools that companies and professionals use to declare and pay Value Added Tax (VAT) periodically. With the new updates coming into effect, it is important to understand their purpose and how they work.
What are forms 303, 322 and 390?
- Form 303: The most common VAT self-assessment form. It is submitted by companies, businesses, freelancers, and professionals monthly or quarterly to report taxable transactions, calculate the VAT collected, and deduct the VAT paid
- Form 322: A variant of Form 303, designed for businesses under the Group of Entities VAT regime. It allows companies within a tax group to declare their VAT collectively
- Form 390: An annual VAT summary. It consolidates all the information reported throughout the year in forms 303 and 322. This form is mandatory for certain taxpayers and helps ensure that monthly or quarterly declarations match the total annual VAT.
Changes in the equivalence surcharge regime
For taxpayers under the special equivalence surcharge regime, the following adjustments will take effect from January 1, 2025:
- For products subject to 7.5% to 10% VAT, the equivalence surcharge will increase from 1% to 1.4%
- For products subject to 2% to 4% VAT, the equivalence surcharge will increase from 0.26% to 0.5%.
Updates to supplementary self-assessments
Form 303 now includes a new field to identify the results of previous self-assessments, whether positive or negative. This facilitates the management of supplementary declarations, allowing for better tracking of corrections made to past filings.
Specific modifications to VAT forms
Additional changes have been made to improve clarity in VAT forms:
- Renumbering of box D in form 303
- Adjustments to the final reporting period fields for taxpayers exempt from filing form 390
- Elimination of outdated articles and annexes in the regulation of form 390.
Modifications to Form 390
The HAC/1167/2024 Order has modified form 390 to incorporate the necessary fields for new VAT rates and equivalence surcharges applicable in 2024. These changes ensure that form 390 accurately reflects all transactions carried out during the fiscal year.
