Model 360/361: VAT refund beard outside Spain
Many entrepreneurs are seeing how the internationalization of their companies causes them to have to bear VAT in countries of the European Union that are not theirs. This is the case with VAT operations of hotels and restaurants, which is very typical of trade fairs, for example.
To clean up your finances, it is important to know how to request a refund of input VAT outside Spain through the forms 360-361.
Model 360/361: How to request the refund of the VAT supported abroad?
To request the refund of the VAT supported outside Spain, the model 360/361 must be presented via internet.
In this form we must write down all the information regarding the supplier in which we have made the expenditure and a copy of the invoice received (date, taxable base, VAT rate applied, concepts of expenditure incurred). In addition, the invoice must be attached in the application.
If the countries in which the costs have been incurred are different, different applications should be made.
When to order the 360/361 model?
The frequency of filing for model 360/361 will depend on the amount of money being claimed. If the request is for an amount to be returned of more than € 400, it must be done on a quarterly basis. If the amount of money is less than € 400, it must be done annually.
The deadlines for requesting the refund of VAT paid abroad are as follows:
– If a quarterly application is required: From the day following the end of the natural quarter in which the VAT was paid until September 30 of the following calendar year.
– If an annual application is required: From the day following the end of the calendar year in which the VAT was paid until September 30 of the next calendar year.
Each country has its own rules on the minimum limits to be returned, although the most common is that the minimum amount is 50 euros. You can not request a refund if the amount is lower.
How does VAT refund work?
Once filed the model 360, the Spanish tax authorities will be responsible for managing the refund to the country where the VAT was supported. The applicant is then informed by means of an electronic acknowledgment of receipt, having to decide in 15 days to send it by electronic means to the Member State in which the contributions were paid.
Can only a refund of VAT be supported in EU countries?
No, you can also recover the VAT paid abroad if there is a reciprocity agreement with Spain, such as Canada, Israel, Japan, Switzerland, Monaco or Norway, among others.
If you need advice on how to obtain a refund of the VAT supported outside of Spain through the models 360 and 361, do not hesitate to contact GM Tax. We will analyze your situation and look for the best solution (which can be translated into the return of a non-negligible amount of money).