The market for buying and selling second-hand products has not stopped growing in recent times. There are many who have turned these applications and platforms into a business model with which to get good money, which can have its tax consequences.
Many users of this type of Internet services use them to get some money or to get rid of products that they do not use. At the same time, many others seek to save a few euros thanks to this emerging second-hand market. We are referring to well-known services and applications such as Wallapop, Vinted or Milanuncios that we use from the browser or mobile. It all depends on the money that we pocket with these sales that we are talking about now. We tell you all this because it seems that at this moment the Treasury is taking action on the matter.
This is something that can directly affect sellers who use these platforms and others like them starting next year. Specifically, we are referring to the fact that the Tax Agency has launched a notice for people who use these second-hand sales solutions on a regular basis. One of the reasons for all this is that buying and selling in the second-hand market over the Internet is expanding substantially. This is something that extends to all kinds of items, from a simple item of clothing to a car.
That is precisely why the applications that allow us to carry out this type of movement do not stop growing and improving. This is something that in one way or another obviously affects the market and conventional stores that sell new products.
Treasury monitors sales in Wallapop or Milanuncios
Surely many of you already know first-hand that we sell here on many occasions face to face or through a courier service. We can receive payments through the same application or even in hand if we meet the interested party. In fact, there are some physical and online stores that are also joining this second-hand market trend. For example, this is the case of Zara or H&M. This will allow the aforementioned businesses, among others, to recycle the garments that were not sold at the time so that users can take advantage of them at a lower price.
These reasons that we have mentioned have caused, among others, that the Treasury begins to become aware of the growth of all this. This is why we tell you that the Tax Agency of our country is beginning to study carefully certain movements that we make in cash or through Bizum, for example. And it is that we must take into account that as they inform us, purchases and sales through apps such as Wallapop, Vinted or Milanuncios are also taxed.
That is precisely why from next year the measures to control this income will be extreme. To give you an idea of ​​what we are telling you, this type of sales in particular is taxed in two cases. On the one hand, when it comes to collectibles. It is something that we must declare, that is, pay 19% taxes if its cost is below 6,000 euros.
In turn, if the income from sales exceeds the SMI or minimum interprofessional salary, this is considered as an economic activity. They are subject to tax obligations, so we will have to register as self-employed and declare VAT. Therefore, from now on this is something that we should take into consideration if we do not want to have problems with the Tax Agency in this type of purchases and sales in the second-hand market.
