What is the form 390 about?
The form 390 is an informative tax return (it is not a self-assessment for tax purposes), which includes transactions details declared in the self-assessments for the tax year. This is why it is called VAT Annual Summary.

Is it mandatory for all taxpayers?

Submitting it is mandatory for all taxpayers having submitted any VAT self-assessment during the tax year.
However, on an exceptional basis, this rule does not apply in the following cases:

1. Taxable persons required to keep the VAT Record Books through the electronic office of the tax agency (Immediate Provision of Information) who meet any of these requirements:

  • Registered in the REDEME (Register for VAT Monthly Refund).
  • Large companies (turnover for VAT purposes exceeding EUR 6,010,121.04).
  • VAT groups.
  • Taxable persons who have opted to be included in the SII.

2. Taxable persons who meet the following three requirements:

  • In quarterly tax return periods.
  • Taxed in the common territory.
  • Pursuing activities in simplified regime or, whose activity consists exclusively of urban real estate leasing.

Those having withdrawn from the Census of Businesses, Professionals and Withholders will be required to submit tax return before the start of the last quarter of the tax year.

What do these taxable persons exempted from submission need to do?

Such taxpayers are required to fill in specific sections in the VAT self-assessment of the fourth quarter, including:

  • Description of all activities referred to in the return, showing as main activity the one with a larger volume of transactions in the tax year, together with the activity code and the heading of the IAE of each one of them.
  • Total volume of transactions carried out during the tax year and, where appropriate, the percentage applicable pro rata, different sectors and percentages of taxation for several administrations.

When should the form 390 be submitted?

The deadline for submission of the informative tax return with the form 390 for the tax year 2017 expires on the 30 of January 2018 (first thirty calendar days of the month of January following the year referred to in the return).

If you need help submitting the form 390 our expert tax lawyers can help you out.

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