Pay taxe on domain sale?

mick.fr

Hey guys,

If I sell a domain for X euro, am I supposed to pay tax on this since this is the sale of a private good?

Thanks

The Corinthian

Is the money ending up as personal income? If so the answer is yes. If not then the answer is more complicated.

mick.fr

The Corinthian wrote: »

Is the money ending up as personal income? If so the answer is yes. If not then the answer is more complicated.

You sure about that?
If I sell a pair of shoes on eBay I do not have to pay taxes.
Selling a domain name should be the same.
As an occasional seller my understanding is that you do not pay taxes.
That would be the same as if you were selling a personal car and would have to pay income taxes on it. Would be insane.

Now of course if this is through a biz I know the response already.

Onikage

mick.fr wrote: »

If I sell a pair of shoes on eBay I do not have to pay taxes.

You do if you make a profit. If they are second hand and sold at less than the original price, you have already paid the tax. If they are second hand and sold at more than the original price, you are obliged to pay the tax on the difference.

The Corinthian

Onikage wrote: »

You do if you make a profit.

Technically he may have to pay tax even if he turns a loss, however if he turns a profit on it and this profit can be considered income, then he definitely has to pay tax on it.

Bob the Builder

I'm not sure at all, but maybe, just maybe this link might help you. It is probably irrelevant but have a look anyway: http://www.taxireland.ie/irishtaxsystem/vat.asp

mneylon

Tax and VAT are not the same thing....

mick.fr

Thanks for your input guys