For the third year in a row, if you sold goods on Vinted or another peer-to-peer platform, you may have to report the proceeds. Depending on their amounts, however, you will not necessarily be taxable.
The tax declaration campaign is coming to an end soon in France. Taxpayers living in departments number 55 to 976 have until Wednesday June 8, 2022 at midnight to complete the process. There are still a few hours left to make your declaration and check that you have correctly filled in the various boxes.
What about the income obtained on the Vinted application, for the resale of second-hand clothes? What do you really need to do? Numerama takes stock of this particular subject. You will find all the best practices for declaring your income and digital accounts in this other complete guide.
In which cases do you have to make your declaration?
Many Internet users have asked themselves the question: do you really have to declare the income earned on Vinted? The answer is yes, for the third consecutive year. However, you do not need to declare your income on the platform in all cases. In effect, ” a reporting exemption for platforms is provided for income from the sale of second-hand goods between individuals “unless you realized” more than 3,000 euros in revenue or more than 20 transactions “. Concretely, ” if the user has exceeded each of these 2 thresholds (more than €3,000 and more than 20 transactions), the platform must declare the income to the tax authorities “Explains the tax site.
If you have won less than 3,000 euros, or have made less than 20 transactions, you are therefore not affected by the reporting obligation.
Vinted is not the only online sales platform affected. Article 242 bis of the General Tax Code, amended by the law of October 23, 2018, concerns, since 2020, “ platforms for connecting people remotely, electronically, with a view to selling goods, providing a service or exchanging or sharing goods or services “.
Vinted, which is part of this type of platform, is therefore required:
- To prevent, with each transaction, “ tax and social obligations incumbent on persons who carry out commercial transactions through it »,
- to provide people using its services, at the end of each year, with a summary of the transactions carried out during the past year (this is ” this summary which will allow them to complete their 2020 tax return, provided of course that the income in question is to be declared “, explains the tax site),
- and to provide this same information to the tax authorities.
If you have a Vinted account, you must therefore have received by email before January 31, 2022 a document summarizing the transactions carried out in 2021.
You will not necessarily be taxed on sales
Be careful, however: declaration is not always synonymous with taxation. The tax department makes a distinction between the sale of goods that ” we no longer want to keep and the sale of goods purchased for the express purpose of reselling them.
If you have sold property with the intention of getting rid of it, you will not be taxed, except if the sale concerns precious metals, or if the amount of the capital gain is greater than 5,000 euros(excluding furniture, household appliances or automobiles, which are exempt).
If you bought goods for the express purpose of reselling them, the situation is different: you buy a large quantity of clothes in order to resell them for a profit, the income is therefore taxable. If you are in this situation, depending on the amount of your annual income, you will have to declare your income according to several tax systems.