Greece Greece Prepares Online Platform for 'Airbnb Tax'

Greece Prepares Online Platform for 'Airbnb Tax'

Greece is cracking down on undeclared income of owners leasing residential lodgings on a short-term basis.
Tax authorities are creating an online platform where Airbnb lodged properties should be declared, or face a hefty fine.
According to a report in Naftemporiki, registration will be mandatory and it will provide property owners with a certification number, which should be declared on any digital platform, website and social media where it is advertised – including the Airbnb website.
The platform will demand the declaration of the property, the names of the renters and the duration of the lease, or otherwise face a fine of up to €5,000.
Naftemporiki says that income from short-term residential leasing will be taxed based on income.
Specifically, for a taxpayer with a yearly income of up to 12,000 euros, the tax rate for income derived from short-term residential leasing will reach 15 percent; 35 percent for a taxpayer with between 12,000 to 35,000 euros in annual income.
Above an annual income of 45,000 euros, a taxpayer’s income from short-term residential leasing will reach the astronomical rate of 45 percent, i.e. nearly one in two euros goes to the state.
Tax authorities aim to collect revenue from people who put their property for lease on Airbnb, as many crisis-hit Greeks try to make ends meet by renting their homes to foreign visitors.
It is estimated that three million tourists will be hosted in Greek homes in 2017.

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