Wed. May 29th, 2024

Pokémon: at tax time, card collectors will be furious

Natasha Kumar By Natasha Kumar May14,2024

With the Covid-19 pandemic, interest in credit cards is increasing. play and play Collecting, and particularly Pokémon cards, has experienced a worldwide resurgence. A new audience for the cards of our childhood, which here goes beyond the simple playground. With the push of NFTs by financiers, the speculative bubble of Pokémon cards has been destroyed. took by storm, so much so that prices exploded. And unfortunately for those who turn to these cards for profit, the taxation is far from being advantageous.

Pokémon: at tax time, collectors of cards will rage

tax them all

Are Pok&eac;mon cards collectibles? An upgrade day of the Official Bulletin of Public Finances (Bofip) did not miss to respond to questions this question, which risks chilling more than one person. On the resale of cards, a tax applies. So far, logical. But what percentage should be returned? &àgrave; the state? If the cards are considered collectibles, the total tax is 6.5% if the sale price exceeds 5,000 euros.

Pokémon: at tax time, card collectors will be furious

Otherwise, and this is currently the case, the capital gain made on the resale of Pokémon cards and whose sale price exceeds 5000 euros, is taxed with a flat-rate tax of 19%, which is added to social security contributions of 17.2%. An overall tax of 36.2% therefore.A reality which may disappoint more than one, but which only follows the decisions of the European Union. “The administration is only applying the European text, which clearly defines a list of collectibles, of which game cards are not part” explains lawyer Thomas The Butcher of Echoes.

Pokémon: at tax time, collectors of cards will rage

Of course, exceptions exist. And in the case of Pok&eac;mon cards like the Pikachu illustrator sold for 4,477,146 euros during a record sale, it is possible that they will be recognized as collector's items.Taxation advantageous room reserved for a few extremely rare cards, the vast majority Pokémon cards on the market is therefore not concerned. Even if collectors are disadvantaged by this decision, considering Pokémon cards as consumer goods rather than collectible goods aims above all to increase their popularity. curb speculation.

Pokémon: At tax time, card collectors will enrage

But as Me Le Boucher points out, a progressive reduction exists. Therefore, after six years, an annual reduction of 6% applies. And after 22 years, a total exemption is possible. So you can put an alert in your calendars so you don't forget.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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