Vinted: taxes know how much you’ve earned (and that’s normal)

The 2020 income tax campaign for the 2021 income tax started on April 8, 2021, and already some taxpayers are surprised at the changes which, however, do not date from last year. This is the case of some users of the Vinted platform, specializing in the resale of second-hand clothes, who respected the law … by communicating the income to the tax authorities.

Why the tax authorities know your income from Vinted (and others)

If some Internet users are surprised that the tax authorities know their income on Vinted or on other platforms for connecting individuals, such as LeBonCoin, this is actually nothing new. Since 2018, in fact, these platforms have been required to communicate these revenues to the tax authorities. as soon as they exceed the sum of 3,000 euros over one year and that there have been more than 20 transactions carried out.

The users of these platforms are therefore now required to declare this income, but only in certain cases. This is where the situation can be confusing, but the government wants to fight against tax fraud, especially from people who use these platforms to actually trade.

When should I declare my income on peer-to-peer sales platforms?

The rules are simple: the tax authorities make a difference between selling used goods that you want to get rid of … and buying or producing goods to resell them.

In the case of goods that we want to get rid of (old clothes, old objects, etc.), the sale is not taxable except in the case of precious metals or goods with a transfer value of more than 5,000 euros.

If you buy goods to resell them, or create goods to sell them, in this case you will have to declare your income to the tax authorities and opt for the Micro BIC regime if the turnover is less than 176,200 euros. You must then complete the additional income tax declaration n ° 2042 C Pro (line 5 NO). Taxation will then be on 29% of revenue, the tax authorities applying a reduction of 71%.