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The periodic return: modelo 303, deadlines and credits
The module’s worked examples, then cases to attempt before revealing their solution · 3 sections · 452 words · 4 min
Worked example
Javier's first quarter
Javier invoiced repairs for a taxable amount of 8,000 € at 21 %, so 1,680 € of output VAT. He bought materials for 2,000 € plus 21 %, with invoices, so 420 € of deductible VAT, and fuel for his van for 100 € plus 21 %, so 21 €. The van is assumed to be a mixed-use vehicle used to carry goods: article 95, sections three and four, then presumes its fuel 100 % business use; for a passenger car, the presumption would be 50 %. The quarter's result is 1,680 € − 441 € = 1,239 €.
Worked example
A quarter with two rates
A small grocery sells food for a taxable amount of 20,000 € at 10 %, so 2,000 € of VAT, and cleaning products for 3,000 € at 21 %, so 630 €. Its output VAT is 2,630 €. It bought stock for 15,000 € at 10 %, so 1,500 € deductible, and paid 200 € of VAT on its electricity bills. The quarter's result is 2,630 € − 1,700 € = 930 € to pay.
Practical case
Carmen's start-up quarter
Carmen opens a small pastry shop in April. Between April and June she sells pastries and cakes for a taxable amount of 6,000 €, food products all taxed at the reduced 10 % rate (ordinary bread, by contrast, would be at 4 %). She buys an oven and fittings for 12,000 € plus 21 % VAT, with invoices in the pastry shop's name. What is the result of her second-quarter return, by which date must she file it, and what can she do with the result?
Hint: Compute the VAT collected at 10 % and the VAT paid at 21 %, then compare them. Think about what articles 99 and 115 allow when the difference is in the taxpayer's favour in a quarter that is not the last of the year.
Show the solution
Output VAT: 6,000 € × 10 % = 600 €. Deductible VAT: 12,000 € × 21 % = 2,520 €. Result: 600 € − 2,520 € = −1,920 €, a credit in her favour. The return for April to June is filed between 1 and 20 July. Since this is not the return for the last period of the year and Carmen is not registered in the monthly refund scheme, she cannot claim a refund here: she carries the credit forward and offsets it in later returns, within four years. If a credit remains on 31 December, she can claim its refund in the fourth-quarter return, but not offset and refund the same credit.
Answer: A credit of 1,920 €, filed by 20 July, to be carried forward; a refund could only be claimed in the fourth-quarter return
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