Property owners who earn income from short-term Airbnb-type rentals risk hefty fines and even expulsion from the online platforms if they fail to finalize their income data for 2024 in the register of the Independent Authority for Public Revenue (AADE) by February 28 or have not registered with it.
Those with the obligation to submit the data have until the same deadline to correct any errors in the provisional declarations they have submitted for the other beneficiaries, income percentages and other necessary information.
After the deadline expires, extensive checks will begin with the aim of identifying those who are hiding the income they receive from the rental of their properties from the tax authorities. The tax administration will cross-check the information to be declared with the data it will receive from the Airbnb, Booking.com and VRBO platforms, as provided for in the cooperation protocol they have signed.
In the first phase, the audits will focus on owners and managers of Airbnb-type properties who have not declared the Property Registration Number (PRN) on the electronic short-term rental platforms or have declared incorrect information about their properties.
If it is determined that the properties have either not been registered in the Short-Term Rental Property Registry or were posted on digital platforms without a visible indication of the Short-Term Rental Property Registration Number (STRN) or the Special Operation Sign (SOS) or the Unique Notification Number (UNN), then the details of the properties and managers will be forwarded to the tax authorities for the imposition of extra taxes as well as fines.
Those fines for owners and managers of short-term rental properties start from 5,000 euros: Specifically, for failure to register in the Short-Term Rental Property Registry, a separate fine is imposed per year, equal to 50% of the gross revenue of the tax year in which the violation is committed, which cannot be less than €5,000.