This is the tax form by which autonomos and companies declare quarterly IVA balance and pay amounts due.
How does it work?
Modelo 303 is used when the autonomo or company informs the tax office of the balance of its IVA account. This is worked out by subtracting from the total IVA amount collected, with the sales and the IVA contained in its deductible expenses.
When negative amounts result, that is, the IVA in purchases (IVA paid) surpasses IVA in sales (IVA collected), the balance remains as a credit for the next quarter.
Deadline: By the 20th of April, July, October and 30th of January.
Payment: Any positive balance.
When are you obliged: All sole traders and companies are obliged to pay unless they carry out an IVA-exempt activity.
Notice: Any negative balance can be carried forward. At the end of the year, it may be applied to be refunded or left for the following year.
See deadlines of most common “modelos” in this table.