Starting this year, if you carry out transactions on platforms like Wallapop or Vinted and exceed €2,000, or 30 transactions per year, be aware that the Tax Agency will be informed of these details.
According to the Tax Agency, declaring sales on second-hand platforms becomes essential to maintain fiscal transparency and contribute to the proper functioning of the tax system.
In summary, new ways are being sought for the Tax Agency to have the necessary information (which it didn't have before) to collect more taxes in our tax declarations.
How do these sales affect your income?
Two situations can arise:
1️⃣ You sell but don't make a profit. In most cases, the selling price will be lower than the purchase price, so there's no need to declare anything about it.
2️⃣ You sell and make a profit: In this case, according to the Income Tax Law, you should declare this profit as capital gains and pay taxes on it.
What will be the repercussions from now on?
The situation becomes complicated when exceeding the imposed limits (€2,000 or 30 transactions) but, How will the Tax Agency handle this information? Could they consider it as having a hidden economic activity? Will they seek to collect more through new taxes?
We'll be vigilant to inform you of any related updates. Stay informed and comply with your tax obligations!
Contact us!
We are at your disposal to provide guidance and address any inquiries you may have. Don't hesitate to get in touch with us.
