Understanding Model 340 - Generate VAT Tape File Program for Suspended VAT

Due to the new Spanish law effective January 1, 2014, that allows deferring the VAT amounts, the Spain Model 340 VAT report includes the details for tax recovered at the time of payment on vouchers received at the time from suppliers that opted for cash basis method.

The Record type 2 (B.2) - Received Invoices records under positions 350-405 now inform VAT according to reclassification date and amount and more details in case of processing suspended VAT records.

When you run the Spain Model 340 VAT report in final mode for reclassified suspended vouchers, the system selects vouchers from the F704200 table based on reclassification date. Then, it groups documents by tax area, tax explanation code, and reclassification number. Then, the system updates the Suspended VAT Declaration Mark table (F74S342) for reclassified suspended VAT operations already paid or payable on or before December 31st of the next year. For suspended VAT records, the Spain Model 340 VAT report selects vouchers in this way:

• In the period the voucher is received, it selects records with voucher date, displays deductible tax amount as 0, and does not provide payment details.

• In the period the voucher is reclassified, it selects records with reclassification date, displays deductible tax amount equal to the reclassified tax amount, and provides payment details.

• If voucher is received and reclassified in the same period, the system reports it only once.