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Exemption for taxable transfers of €305

Exemption on small amounts of taxable transfers

Updated over a year ago

Hi there πŸ‘‹

Your overall capital gain for the year is taxable if the total of your taxable sales exceeds 305 euros.

If your total taxable transfers are less than €305, you are therefore exempt from taxation.
The exemption is effective if you have less than €305 of taxable transfers, and not €305 of capital gains.

⚠️ Exemption does not mean you have no tax obligations.

Indeed, even if you are concerned by the exemption, you must still :

  • Fill in the 2086 form attached to your income tax return which allows you to declare your taxable transactions. Once this form is completed, if you are under €305 of taxable transfers, the administration will tell you that you are exempt from taxation;

  • Fill in the 3916-bis appendix to declare your accounts opened, held, used or closed abroad during the current tax year.

πŸ’‘ The tax calculation provided by Waltio will always indicate for information purposes the amount of your tax. For example, we may show you a tax liability of €305 or less. This will mean that, in theory, you should have paid this amount to the tax authorities but, in practice, you will be exempt.

⚠️ The tax exemption for capital gains in case of an annual transfer amount of less than €305 should not be confused with a tax allowance.

Also, if the total of your taxable transfers exceeds the sum of €305, you are taxable on the totality of the capital gains without benefiting from an allowance of €305.

For example, if you have made taxable transfers of €306, you are taxable on the entire amount.

If you have any other questions, do not hesitate to contact us via the chat just at the bottom right of your screen! πŸ’¬

The Waltio team

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