What is Model 415?
Model 415 is an informative declaration that must be submitted by entrepreneurs and professionals operating in the Canary Islands, similar to Model 347 on the mainland. Both models are used to report transactions with third parties exceeding €3,005.06 annually. They are submitted annually, between February 1 and 28, and include transactions with customers and suppliers. Both models are submitted electronically, one through the Canary Islands Tax Agency (Model 415) and the other through the Tax Agency (Model 347).
Who is required to submit Model 415?
All self-employed individuals who have carried out operations with third parties exceeding €3,005.06 in the Canary Islands subject to IGIC are required to submit Model 415. This includes both the sale of goods and the provision of services within the Canary Islands.
What is declared in Model 415?
Model 415 must declare all operations with third parties where the amount exceeds €3,005.06. These transactions include purchases, sales, subsidies, and more. A specific key is assigned to differentiate each type of transaction.
What is the deadline for submission?
The submission of the Annual Declaration of Economic Operations with Third Parties (Model 415) must be done by the last day of February each year (or the next business day if that day is a holiday), in relation to transactions carried out during the previous calendar year.
What information should be included in Model 415?
Model 415 must include:
- Sales
- Purchases
- Payments for mediation
- Purchases made by public entities outside any business or professional activity
- Subsidies
- Sales from travel agencies
- Purchases from travel agencies
The total amount of transactions with each person or entity during the relevant calendar year must be indicated. For transactions subject to, and not exempt from, IGIC, the payment amount should include both the amounts paid and the corresponding IGIC fees.
How is Model 415 submitted?
Model 415 is submitted electronically through the Canary Islands Tax Agency (ATC) website. A digital certificate and access to the ATC platform are required to submit the model.
What should I do if I haven’t submitted Model 415 during the year?
If you haven’t submitted Model 415 by the required deadline, it is important to regularize the situation as soon as possible. If you have any doubts, we recommend contacting ayudamailto:ayuda@xolo.io@xolo.io, and we will provide detailed steps to ensure you meet your tax obligation