Does Paypal report to the tax office for "goods and services"?
Hello 🙂
I'm currently selling a large collection of records in the classifieds. There are some real rarities among them, which is why a music club in Denmark made me a good and fair offer of approximately €1,800 including shipping. They understandably want to pay via PayPal "Goods and Services," meaning they have buyer protection. Because they don't want to naively send the money abroad without insurance. That's understandable, in my opinion.
Does PayPal report such a large amount to the tax office? Or are there any limits on receiving money? I usually only sell through "friends and family," since the amounts are usually small.
Thank you for your help 🙂
LG Thomas
(1 votes)
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PayPal not, but classifieds.
Thank you.
So as long as I don’t report the sale to classifieds, I’m on the safe side?
The display of classifieds is a convolute, of which only a part goes to Denmark. The display thus remains (up to the sold) records.
LG
On the safe side for what? Private sales are and have always been tax-free if they were owned for more than 1 year. The Platform Control Transparency Act has not changed this either.
It is more likely to cause suspicion if the sale is to be swallowed in order to avoid the reporting obligation of classified ads.
Okay, thanks. It’s not supposed to be slandered. The display continues as there are many records in the convolute 🙂
No.
As long as you sell “out of your own stock” the NO business is. But as soon as you buy records, it’s a registered business.
What’s so bad about it? You just have to tax your GEWINN.