Greek tax office hooks up with Airbnb to catch cheats
Greece's tax office has struck up a deal with three leading short-term property rental platforms that foresees the exchange of information between the two sides in a bid to catch those dodging their tax obligations.
Tax office IAPR said in a statement that it has reached an agreement with Airbnb, Booking.com and Expedia that requires property owners to declare to the platforms their property registration number. Some Greek media have been reporting that the deal also foresees platforms providing tax authorities once a year with detailed data on revenues earned from the assets promoted on their site.
“This best practice milestone enables us to monitor and further enhance taxpayers’ compliance, while keeping a level playing field for platforms in the short-term rental sector. The agreed procedure pursues a compliance by – design approach for anyone that plans to enter the short-term rental activity," said IAPR governor Giorgos Pitsilis.
Prior to the pandemic, short term property rentals played a key role in shaping Greek real estate with the value of homes in tourist popular districts strongly outperforming the broader market. Greek authorities have been aiming for a deal with sites, such as Airbnb, for years in a bid to stamp out tax evasion in the sector.