The Greek government is reportedly ready to table legislation making the framework governing short-term property leasing in the country, so-called “AirBnB” lodgings, stricter.
Such legal changes, if enacted, will mark the first time since 2017 that legislation affecting this booming sector of the tourism industry has been introduced in the east Mediterranean country.
Among the stricter provisions envisioned is one that transforms an individual taxpayer into a business operator if exploiting more than three properties on short-term lease/stay platforms. In other words, a personal tax code number appearing on three or more such properties – regardless of location – will mean that the individual is imposed with a business tax rate of 22 percent of generated profits, while also being forced to tack on VAT to overnight stays and pay a standard hotel stay fee.
Under the current framework, an individual leasing out “AirBnB-type” properties is taxed at 15 percent of the generated income, if the latter is below 12,000 euros annually; 35 percent for income of between 12,001 and 35,000 euros and 45 percent for income in excess of 35,000 euros.
Another reported provision foresees that a property cannot be leased out on a short-term basis for more than 90 days a year.
Exclusions and exceptions may either be water downed for this foreseen provision or render it stricter. For instance, one idea is to reduce the figure to 60 days per year on islands with a permanent population of below 10,000.
For the remaining period the property can be occupied only by the owners or left vacant.
Conversely, the prospect of excluding properties whose owner or controlling agent makes less than 12,000 euros annually from this activity is being considered.
Exactly what the government will present as draft legislation will await Prime Minister Kyriakos Mitsotakis’ address over the weekend in Thessaloniki, on the sidelines of an annual trade exhibition there.
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