The impact of the resale of used objects
With the rise of platforms like Wallapop and Vinted, buying and selling second-hand items between users has become a common practice. This trend, which at first seemed like a simple method to get rid of unnecessary things, has now attracted the interest of tax authorities.
Legislative changes in force
From January 2024, the European Directive DAC7 (2021/514) will impose on sales platforms such as Wallapop and Vinted the obligation to communicate the tax data of their users to the Tax Agency. This regulation aims to identify those sellers who use these applications to generate regular income, beyond simple house cleaning.
Which vendors will be under the microscope?
The fiscal control will focus on those users who make more than 30 sales a year or who obtain more than 2,000 euros in income. In these cases, your data will be sent to the tax authorities automatically, with the aim of ensuring that the income derived from the sale of items is properly taxed.
What are the tax limits?
The limit to prevent your data from being reported to the Tax Office is clear: if you carry out more than 30 transactions or generate more than 2,000 euros in sales during a year, you will have to declare it. In addition, if your earnings exceed 6,000 euros, you will be subject to a tax of 19%, which can increase to 23% if the income exceeds 50,000 euros.
Consequences of not declaring income
The repercussions for not complying with tax obligations can be significant. The Treasury can impose penalties that vary between 50% and 150% of the undeclared amounts. For example, if you don’t report an income of 10,000 euros, you can face a fine of up to 15,000 euros.
The role of platforms
In addition, platforms are required to block the accounts of users who do not comply with tax regulations, which adds an additional level of pressure to ensure compliance.
Tips to avoid penalties
To avoid complications with the Tax Office, it is advisable to keep a thorough record of all transactions, as well as keep the purchase receipts for the items sold. If buying and selling second-hand items becomes a steady source of income, it may be wise to consider yourself self-employed and meet the corresponding tax responsibilities.
Final thoughts on responsible resale
Reselling used items can be a lucrative activity, but it is essential to understand the tax implications involved. With the new regulations, it is essential that sellers are informed and comply with their obligations to avoid unpleasant surprises in the future.
