Tax implications for selling used clothing from personal assets in a rented store

• The person is engaged in the retail sale of used clothing in a rented space.
• They have not purchased any merchandise for resale, as the items for sale come from their private assets.
• They may consider purchasing used clothing from third parties for resale in the future.
• They are subject to the Value Added Tax.
• The person is considered an entrepreneur or professional for VAT purposes, as they have a set of personal and material resources for the production or distribution of goods.
• Both the goods from their private assets and any goods they acquire for resale are subject to VAT.

Source: audiconsultores-etlglobal.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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