Short-term rental properties are in increasing demand, with the market having recorded a huge increase in recent times, while in view of summer, these rentals are expected to skyrocket.
In parallel with this increase, the controls of the competent tax authorities are intensifying, with the aim of combating tax evasion in this sector.
The Independent Public Revenue Authority very recently "dusted off" the data from taxpayers who were found to have not declared their income from renting properties through AirBnB-type platforms.
In the audits conducted in 2018 by the AADE, 38 taxpayers were found to have undeclared income from short-term AirBnB type rentals.
They themselves subsequently declared an average income of 23,222 euros, or 1,935 euros per month on average, and a total of 882,443 euros.
The tax office, it seems, has its eye on taxpayers who are active in this particular sector, especially since the estimated revenues amount to 1.9 billion.
Registry and intersections
55,000 citizens have registered in the Short-Term Rental Registry. In this, owners will have to present a tax return for the year 2018 that includes the income from the rental of their properties for 2018, which will be taxed at rates ranging from 15% to 45%.
These incomes are declared collectively per property in code 60 of column 16 of form E2 (detailed statement for real estate rentals). A 5% deduction is recognized from the gross incomes of 2018 for the costs of repair, maintenance, renovation or other fixed and operating expenses of the properties.
It is worth noting that the income declared in the tax return will be cross-checked with that appearing in the Registry.
The Public Property Administration (AADE) has begun cross-checking data on real estate, through taxpayers' declarations on Taxisnet.
Source: https://www.zougla.gr
