Incomes of 102 million euros “hidden” by more than 73,000 managers and owners of Airbnb-type properties, were revealed by Independent Authority for State Revenue-AADE audits carried out in 2022 based on data from digital platforms (Airbnb, Booking.com, VRBO Expedia).
The data from the platforms was cross-referenced with the tax returns and the “forgetful” taxpayers were caught and asked to submit amended returns in order to show the “hidden” income and pay the taxes and the prescribed penalty.
In fact, AADE asked the platforms to take down 14,736 real estate listings as it was found that they did not have a Real Estate Registry Number (RMA) or the number listed electronically was not valid. At the same time, e-mail messages were sent to luxury villa management sites for their obligation to comply with the internal relevant legislation.
The tax control mechanism plans to cross-check the rents of short-term leases with the data that taxpayers will declare in this year’s tax returns with the aim of identifying those who hide the income they obtain from the rental of their propertiesfrom the tax authorities. In cases where it is established that properties have not been declared in the “Short-term Accommodation Property Register“, or they were posted on digital platforms without a clear indication of the Short-term Accommodation Property Registry Number or the Special Operating Sign, or the Unique Notification Number (UNIN) then the details of the properties and the “Managers” are sent to the tax bureaus and the owners are called to the tax office in order to give explanations.
Based on the current legislation, the fines that offenders will be asked to pay range from 5,000 euros to 20,000 euros and concern the following cases:
– Failure to register in the “Register of Short-Term Accommodation Properties”.
– Non-obvious mention of the registration number in the “Register of Short-term Accommodation Properties” in the posting of the “Property” on digital platforms as well as on any other means of display.
– Non-obvious indication of the number of the Special Operating Sign in the posting of the “Property” on digital platforms as well as on any other display media, by the “Managers” for whom there is no obligation to register in the “Register of Short-term Accommodation Properties”.
The fine provided for each violation amounts to 5,000 euros, which is doubled (10,000 euros) for the second violation. For each subsequent violation, from the third onwards, within the same year, the fine is four times the initially imposed, i.e. 20,000 euros.
Latest News
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.