If you sell a lot online, you should keep a sales diary.
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Frankfurt Online trading is booming. Thanks to marketplaces such as Airbnb, Ebay and Ebay classifieds or Viagogo, even private individuals can quickly earn a few euros. The tax authorities are interested in this, because the income may be taxable.
Until now, however, the tax authorities have had to blindly trust online sellers. That is changing now. Because on January 1st, 2023, due to EU regulations, the Platform Tax Transparency Act (PStTG) came into force, which obliges the operators of online sales platforms to report sales data to the tax authorities – from commercial and private users.
“This makes control easier for the tax authorities. The risk of being caught increases significantly,” expects David Wenzel, tax consultant from Mömlingen.
In the future, it will be important to correctly state all relevant sales yourself in the tax return. “Unexplained sales or profits can be interpreted as tax evasion,” warns Wenzel. The Handelsblatt explains what income you have to pay tax on online portals, from how many sales you are considered commercial and what allowances there are.
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