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Isabel Méndez
Malaga
Tuesday, 3 September 2024, 11:20
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Spanish tax authorities are cracking down on online marketplaces such as Wallapop and Vinted that sell secondhand items.
It comes after a new European directive came into force which obliges platforms such as Wallapop and Vinted to share certain data of their sellers. Platforms must report all transactions to the tax authorities, which will have to be declared when certain amounts are exceeded, and inform users who exceed a certain volume of sales so that they notify the tax authorities of their profits.
Under the European directive, private-to-private e-platforms must report users who have earned more than 2,000 euros from their sales in a year, or who have made more than 30 transactions in the same period. This income must be declared for personal income tax purposes.
If they fail to do so, they will be subject to sanctions such as fines. Some users of these platforms have already started receiving fines.
However, Wallapop estimates that less than 1% of its users are likely to reach the limits set by this directive. For this reason, both the platform and the Spanish Association of Tax Advisors (Aedaf) have pointed out in a statement published by Europa Press a message of reassurance to its users, because despite the new directive, the way of taxing the sale of reused products "has not changed".
According to Wallapop, the majority of the platform's more than 19 million users will not be taxed on their sales. The platform estimates less than 1% will be likely to reach the taxable threshold in a typical year.
Both Aedaf and Wallapop agree there is no need to be afraid of this process, as, in general, sales of second-hand goods by private individuals should not be subject to personal income tax, as long as they do not make a profit.
When it comes to understanding the second-hand taxation process, it is important to understand there are two types of sellers on these platforms: individuals and professionals. Professional sellers must pay tax under the same conditions as any other business, issuing an IVA (sales tax) invoice for each item to the buyer, and including this income in their tax return.
However, in the case of private individuals, only those sales that represent a capital gain, such as where a reused product is sold for a higher price than the price at which it was purchased, are taxed for personal income tax purposes.
In this case, the seller must include this information in their tax return in the section 'capital gains and losses derived from the transfer of other assets', starting in box 1624 of the tax return. The taxpayer will have to pay between 19% and 23% depending on the profit obtained.
Vinted insists private-to-private sales are "not taxable", only those who meet the requirements imposed by the European directive will need to send a form "which we -Vinted- partially fill in", facilitating the process. "If you don't hear from us, you don't have to do anything. You can continue selling with complete peace of mind," they added.
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