Source: GTP News by Maria Paravantes
After a series of delays, Greece’s Independent Authority for Public Revenue (AADE)announced on Thursday, that the electronic registry for property owners leasing their homes for short-term accommodation via online sharing platforms, is now operational on www.aade.gr.
According to AADE’s announcement “as of today, 30 August 2018, the Short-term Property Registry is open on AADE’s site and the relevant application for the declaration of short-term leases (in calendar format) is currently operational”.
Airbnb-style hosts, defined as “operators”, leasing their homes via Airbnb or other sharing economy platforms are now required to enroll on the AADE registry, submit a short-term residence declaration for each tenant, enroll in the short-term residential property data system, inform the Deposits and Loans Fund for income attributable to unknown beneficiaries as well as provide information on tenants and duration of stay.
• Logging on to the AADE’s registry and application requires hosts’ TAXISnet personal code,
• It is mandatory for hosts to register each rented property individually,
• Registrants can only obtain a Property Registry Number (AMA) by registering online and providing proof of ownership.
Information concerning short-term rentals on the declaration includes:
• AADE registry registration number,
• the agreed upon rent or the total amount based on the cancellation policy,
• the name of each online platform used,
• personal details of tenants,
• start-end date of rental,
• method of payment by tenant.
Additionally, for all short-term rentals made from 1 January 2018 to 30 August 2018, operators are required by 30 November 2018 to enroll in the AADE’s registry and to submit an accumulative earnings declaration for the 1 January 2018-30 August 2018 period for each property leased separately.
The AADE goes on to note that it is “in advanced discussions with digital platforms operating in the sharing economy (Airbnb, Booking.com and HomeAway) with a view to concluding cooperation protocols and welcoming cooperation initiatives, and with other sharing economy platforms” ahead of the implementation of the relevant joint ministerial decision.
As reported by Greek media, Airbnb’s Regional Policy Campaign Manager EMEA, Sofia Gkiousou, said that: “Today’s announcement is a positive move by the government to simplify the home sharing process for thousands of Greeks, and we are delighted to support it by making it even easier for the hosts responsible for sharing their space. Along with our cooperation, we can help families align with regulations, create new sources of income that will strengthen our society and help rebuild the Greek tourist product.”
Hosts not complying will face penalties of up to 5,000 euros.
For income up to 12,000 euros, tax is imposed at a rate of 15 percent. Takings between 12,001 and 35,000 euros will be taxed at a 35 percent rate; annual gains over 35,000 euros at a 45 percent rate.
For those offering additional services on the side, the earning are assessed as income from business activity and taxed at 22 percent for earnings up to 20,000 euros, 29 percent for yields between 20,001 and 30,000 euros, 37 percent for takings between 30,001 and 40,000 euros, and 45 percent for profits exceeding 40,000 euros.
The online platform aims to ensure compliance with taxation and consumer protection.
Meanwhile, Greek tax officials are stepping up efforts to worm out homeowners renting out properties on sharing platforms but failing to declare earnings. AADE inspectors are posing as tourists seeking to rent out short-term accommodation via home-sharing platforms.