I have sold through Wallapop and rented through Airbnb, how will this affect my tax return?
Posted: Tue Dec 17, 2024 7:21 am
Last year, the General Directorate of Taxes warned users of applications of the so-called collaborative economy and also those of second-hand buyers and sellers that the Treasury was monitoring these operations and that they should pay taxes on them. Therefore, if we have sold through Wallapop and rented through Airbnb, let's see how it will affect the income tax return .
In the case of the sale of second-hand products , the Treasury not only limits it to the aforementioned platform, but other similar ones such as eBay or Vibbo are also in its sights.
The regulatory principle that supports it is that sales of used products made by individuals on online platforms are also subject to the Property Transfer Tax ; and as an onerous transfer , it must be taxed at 4%.
Who pays taxes, the seller or the buyer of engineering email list second-hand products?
It is important to note that this is not a new tax . It has always been there. The General Directorate of Taxes has been responsible for clarifying the existing obligation. There may be several circumstances here that need to be taken into account. Let's go through them.
First of all, who pays the tax? It is the seller who must do so, although logic dictates that the 4% should be passed on to the buyer, who would ultimately be the one who would end up seeing the price of his purchase increase.
However, the obligation to pay this tax corresponds to the seller, who must do so using Form 600 of the Tax Agency. Only in the event that the product is sold for more than its acquisition cost will the seller be required to pay personal income tax (IRPF) for the increase in assets.
Start of marked textTweet the tip! Sales of second-hand products are an onerous transfer and must be taxed at 4%End of marked text
These types of transactions are very common in the case of buying and selling houses, for example, which increase in value over the years. Not so much in second-hand sales, but it can happen. Let's say a comic book or a toy that was bought for X in its day. Over the years, scarcity, nostalgia or the fact that it becomes fashionable again, makes the price of said product have a value of 10X. Income tax should be paid on the profits obtained from the sale .
In the case of the sale of second-hand products , the Treasury not only limits it to the aforementioned platform, but other similar ones such as eBay or Vibbo are also in its sights.
The regulatory principle that supports it is that sales of used products made by individuals on online platforms are also subject to the Property Transfer Tax ; and as an onerous transfer , it must be taxed at 4%.
Who pays taxes, the seller or the buyer of engineering email list second-hand products?
It is important to note that this is not a new tax . It has always been there. The General Directorate of Taxes has been responsible for clarifying the existing obligation. There may be several circumstances here that need to be taken into account. Let's go through them.
First of all, who pays the tax? It is the seller who must do so, although logic dictates that the 4% should be passed on to the buyer, who would ultimately be the one who would end up seeing the price of his purchase increase.
However, the obligation to pay this tax corresponds to the seller, who must do so using Form 600 of the Tax Agency. Only in the event that the product is sold for more than its acquisition cost will the seller be required to pay personal income tax (IRPF) for the increase in assets.
Start of marked textTweet the tip! Sales of second-hand products are an onerous transfer and must be taxed at 4%End of marked text
These types of transactions are very common in the case of buying and selling houses, for example, which increase in value over the years. Not so much in second-hand sales, but it can happen. Let's say a comic book or a toy that was bought for X in its day. Over the years, scarcity, nostalgia or the fact that it becomes fashionable again, makes the price of said product have a value of 10X. Income tax should be paid on the profits obtained from the sale .