Rules laid out for taxation of short-term property lets

eKathimerini — The Independent Authority for Public Revenue on Friday announced a  new process to declare income from short-term leasing, which is taxed at rates ranging from 15 to 45 percent.

The exact rate depends on the total amount of revenues each owner makes, with the same brackets as for conventional rentals.

The decision rules that, for 2017, income from short-term rentals will be declared as a sum in a separate section of the tax return form. However, as of early 2018, property owners will need to sign in  the Short-Term Residence Property Register (STRPR), which is expected to be set up in the first quarter of next year.

They will also have to submit a Short Stay Declaration per guest/tenant, through which they will provide the STRPR with all the necessary data for the calculation of their annual incomes. The data will include the owner’s registration number, the total price agreed, the name of the online platform, the details of the tenant, the period of the lease (start and end dates), and the method of payment.

The IAPR has begun correspondence with the online platforms with the aim of receiving lettings data on a regular basis and identifying owners who fail to declare this form of income.

Airbnb responded saying that while it wants its hosts to pay their tax dues, it must also adhere to strict privacy rules. The booking platform added that it is sharing information with Greece regarding property rentals and that personal data are only shared after a valid legal application in accordance with national and European legislation on data protection.