Saturday, May 21

Vinted, Leboncoin… Do you have to pay taxes on your 2021 sales?

In 2021, several million French people traded on Vinted, Leboncoin or eBay. At the start of the year, these online resale platforms send you emails to notify you of the income that they will communicate to the Directorate General of Taxes. Be careful, these are sometimes taxable and here’s how to find out.

Calculate the revenues related to these services

The first step is to know the revenue that these platforms generated for you between January 1, 2021 and December 31 of that same year. To do this, Vinted, Leboncoin and eBay have the obligation to provide you with this information by means of an email which was normally sent to you before January 31. In this e-mail is indicated the gross amount of the sums collected last year.

According to the general tax code (article 242 bis), this type of company is required to communicate “the number and total gross amount of transactions carried out by the user during the previous calendar year”.

This email is for informational purposes, but be aware that if the amount of your income exceeded 3,000 euros last year or if you made more than 20 transactions on these platforms (even if these did not exceed a few tens of euros), these companies are also required to report this to the tax authorities. This last point does not imply being taxable. The idea being to allow inspectors or tax auditors to be able to check whether there is fraud or not.

A tax on a case-by-case basis

Please note that the administration makes a distinction between income earned through the resale of items you wanted to get rid of and resale for commercial purposes. In the first case, sell your belongings, your old clothes, your collection of books, small furniture, etc. is not taxable… up to 5,000 euros.

Beyond that, the administration may tax you. In this case, the income may be taxed at 19%. Also beware of exceptions: selling a car, household appliances or furniture (chest of drawers, table, etc.) is not taxable, even beyond 5,000 euros.

In the event that you buy from someone several hundred used clothes or objects with the aim of reselling them and making a profit, this is a trade that must be declared and taxed in result. The same applies if you manufacture objects to resell them. The tax regimes then differ and the administration could, if necessary, ask you to account for your activities.

Reference-www.cnews.fr

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