Taxes declaration on gifts

[mrswolf 1]

Hi, 

 

A company donates me a phone and a laptop which are second hand.

I know the original price but the second hand price, I can only estimate it.

 

Do I need to pay taxes on those items? What is the best way to estimate a fair value?

They do not estimate the second hand values either.

 

Thanks!

[scook17 281]

It's fairly easy to work out the second hand value. Search for the item or similar item on 'completed AND sold' listings on ebay.

Print the listings and file them.

If the company is your own, yes, you need to declare the item as sold from the company at the market price to you.

You just then give the company the money for the item and then there is no benefit, so no taxation due.

Company must charge, collect VAT/MWST and then pay it on the sale if they are registered for this.

 

If it's a large employer, often they will largely give away useless IT equipment, as it give's it a second life, rather than going to the waste site.

As such items as sold simply to pass title for a nominal sum, providing it's is obsolete, it saves the company money on recycling costs.

 

 

[BayrischDude 2,073]

More information is needed.

Is 'A company' a firm you work for or are you self employed?  These two items were donated... for you to use and return or for you to keep?

How old is the phone (mobile, I would imagine) and the laptop?  After a time, their value becomes 0€.  The Finanzamt / government have calculated depreciation tables for items such as these.  This is not a matter of assuming a current value based off a wee look online. 

[travelerworker 116]

Hi

I havent seen yet, anybody getting in trouble for an old mobile phone...

Just keep them and forget about the tax return.

Or do you also fill in the tax return for a piece of cake somebody gave you at a birthday party? 

Also  do you pay taxes for your christmas presents?

[HH_Sailor 3,624]

2 hours ago, travelerworker said:

Hi

I havent seen yet, anybody getting in trouble for an old mobile phone...

 

Or do you also fill in the tax return for a piece of cake somebody gave you at a birthday party? 

Also  do you pay taxes for your christmas presents?

 

Not so fast Grasshopper...

 

I used to work for a German based multinational GmbH.

The phrase "payment in lieu" (German : Geldwertvorteil) was mentioned whenever an employee was given anything.

 

eg : a meal out, Christmas party attendance,  an old phone or laptop. The HR would calculate

and I'd find an entry for a couple of Euros on my wage slip.

 

Financially (or the Finanzamt perspektive) I was given an advantage as I didn't need to buy my own dinner,

or piece of cake. So it had to be "taxed" as if it was my salary.

 

This is Germany, after all.

 

So - back to the OP.

Need more info 

Just as @BayrischDude said

 

[travelerworker 116]

yes, could be...

I was never "charged" for lunchs or drinks at the office...and worked in Germany for 6 years for 3 different emplyeers.

Anyways, just an oppinion.

Good luck!