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Taxation and Airbnb: Three-year intersections in Airbnb leases

AADE starts extended crossroads for taxpayers who earn income from Airbnb type properties, and in fact for the last three years. Those who are found not to have declared to the Tax Office the income they have received from short-term real estate leases will be asked to pay taxes and high fines………

From this year, the short-term real estate leasing platforms will send every February to AADE data of reservations and payments of residences in our country per VAT number of each owner for the previous year. Then AADE will automatically pass the data with the income in the tax return E1 of the taxpayers who obtain income from Airbnb type properties, blocking, so, those “they forget” to show to the Tax Office the incomes they acquire. According to reports, AADE examines the possibility that the income from Airbnb type real estate will appear pre-filled in the tax returns from this year.

Under current legislation, short-term real estate leasing platforms are required to provide real estate rental information to the tax administration. The data that AADE will receive will relate to the income earned by every taxpayer in Greece from renting a house under “sharing economy”. These data will be cross-checked with the tax returns of property owners, to determine whether the specific incomes were declared to the Tax Office. Violators face in principle the imposition of an independent fine, which starts from 5.000 euros and reaches up to 20.000 euro.

The fines relate to the following infringements:

Failure to register at “Register of Short-Term Residence Properties”.
Invisible entry of the registration number in “Register of Short-Term Residence Properties” in his post “Real Estate” on digital platforms, as well as in any other media.
- Invisible indication of the number of the Special Operation Signal (ESL) in his post “Real Estate” on digital platforms, as well as in any other media, from the “Administrators” for which there is no obligation to register at “Register of Short-Term Residence Properties”.

The fine provided for each infringement amounts to 5.000 euro, which doubles (10.000 euro) for the second infringement. For each subsequent violation, from the third onwards, within the same year, the fine is imposed at four times what was originally imposed, namely 20.000 euro (5.000 x 4).

In the context of the controls launched by AADE:

1. Those who have not registered on the online platform and have declared their details will be checked. This, as stressed by the executives of the tax administration, it is very easy for AADE to find out, looking, for example, real estate leased through Airbnb companies, Booking, HomeAway etc..

2. The amounts that will be declared on the AADE platform will be compared with the bank transfers with which the owners are paid. namely, AADE will have access to remittances sent to the Greek banking system.

Note that, in order for the property manager to make short-term leases, it must:

a) To enter with his personal Taxisnet codes in the Register of Short Term Residence Properties kept on the website www.aade.gr, to register the property and gain Number Property Records (AMA). The registration is made per leased “Property”.
b) To display the Property Registry Number (AMA) on the digital platforms of the sharing economy, and any other means of promotion.

How Airbnb Income Is Taxed:
Airbnb income is taxed at the rental tax rate, namely:
– For income up to 12.000 euro, at the rate 15%.
– For income from 12.001 until 40.000 euro, at the rate 35%.
– For income from 40.001 and over, at the rate 45%.

Cancellations in short-term leases

Many taxpayers who rent real estate have had a series of cancellations 2020 after the two lockdowns. The fear that they may be taxed on income they did not receive is great, however the Independent Public Revenue Authority points out that in these cases an amendment declaration should simply be submitted. particularly, the actions that must be taken in the event that a Short-Term Residence Declaration has been registered and then it has been canceled are the following:

In case of cancellation of the short-term lease for which a Short-Term Residence Declaration has already been registered, an amending Short Stay Declaration must be submitted by 20 of the month following the cancellation, either when a cancellation policy provides for payment by the lessee or not. If an initial Short Stay Declaration has not been submitted, Initial Short Stay Declaration is submitted until the 20th day of the month following the cancellation, by selecting the special field in the application, only in the event that a payment of rent is provided by the lessee under a cancellation policy.

It is noted that the Short Stay Declarations are submitted until 20 of the following month from the date of departure of the lessee from “Property”. E.g., for Short Term Lease concluded with arrival date 25/11/2020 and departure 28/11/2020, the declaration must be submitted no later than 20/12/2020.

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