Are you a Vinted user? Have you ever sold items on the app? You will have to declare this income to taxes.
If in 2022, you made sales of fashion items on Vinted, the site probably sent you an email . The latter is called “Your annual income report”. This message from the platform is not phishing or a Vinted error , but a mandatory document. Keep it well, because it will determine if you have to declare your sales on the application. Explanations.
Created in 2018, Vinted is one of the most popular second-hand platforms. Currently, the app has millions of users worldwide . It offers very good plans to buy accessories, shoes and clothes.
The concept has worked so well that many people make monthly sales on it . Many use it just as an income supplement, but others earn thousands of dollars in profit. At first, these were not declared, because no legislation on the subject existed .
This aspect challenged the General Directorate of Public Finance. But article 242 bis of the law against tax evasion October 23, 2018 changed everything. dedicated to “e-commerce providers in France” , it is the provision that regulates your activities on Vinted, Leboncoin or other. According to ‘a DGFIP, the latter “aims to prevent fraud, and encourage platforms to communicate with us and their users”.
Since then, Vinted sends you an 'annual income report' which describes your earnings from the previous year . This will determine if you should file a tax return or not
'A declaration exemption for platforms is provided for income from the sale of second-hand goods between individuals'. Another exception is for sales of items that 'we no longer want to keep'. In the case where you would have sold property with the aim of parting with it , these winnings will not be reported. However, if the transaction on Vinted is for precious metals or a sale above 5,000 euros, their profits will be taxed to you .
But concretely, you will only have to declare your income on the application above a certain threshold. This is reached when you have performed 'more than 3,000 euros in revenue or more than 20 transactions' . The tax website specifies that “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”.
In other words, if you make less than 3,000 euros in earnings or make less than 20 transactions, you are not bound by the obligation. You will have to receive the famous “annual income report” of 2022 before January 31, 2023.
The case is not quite the same, if you buy a large quantity of goods to resell them after . Depending on your annual income, your income will have to be declared to different tax systems.
As soon as the tax declaration period has started, you will be able to declare your income on Vinted . As of April 2023, you can start reporting your sales on paper or online.
Like any tax declaration, you have the possibility, you will have more or less time to send it according to your department number. For now, here is the provisional schedule for the reporting period:
Source : Nextplzsource: foozine.com