Greek tax revenues from Airbnb jump 160% in November

Greek tax revenues from Airbnb jump 160% in November

The head of Greece's tax office, Giorgos Pitsilis, said on Tuesday that revenues from short term property rentals in November jumped 160 percent, from a year ago.

The sharp rise comes amidst a November deadline that expired for property owners who lease homes on short term platforms, such as Airbnb. They were required to declare their business activity on a special registrar as part of a crackdown on tax evasion in the sector. Income coming from short term rentals must also be fully declared, or owners face the risk of being hit with a 5,000 euro fine.

SEE ALSO: Greek court bans property rental on Airbnb

Speaking at an investors conference in New York, Pitsilis, head of the Independent Authority for Public Revenue (AADE), said that short term rental tax revenues last month hit 176 million euros, up from 68 million euros in November last year.

The number of properties that have been registered as providing brief accomodation to visitors reached 49,000, said Pitsilis.

Authorities, he added, will now move ahead with cross checks to catch those who have not registered their property or declared income from renting out their homes.

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