Property owners who receive income from short-term rentals (such as Airbnb), until February 28 must complete data entry for 2023 in the register of the Independent State Revenue Administration (ΑΑΔΕ). Otherwise they are threatened fines up to 20,000 euros And exception from short-term rental platforms.
Property owners and managers will need to review the short-term rental declarations they have filed with ΑΑΔΕ in 2023. Taxpayers, not cared for on the completion of short-term rental declarations in 2023 in the register ΑΑΔΕrisk being taxed taxed at 100% of the income declared on their original returns, even if they received it.
From March, the tax control mechanism will begin to carry out audits and cross-checks in order to identify undeclared income based on analytical data sent to ΑΑΔΕ platforms Airbnb, Booking.com and VBRO. The checks will be based on detailed transaction data for 2023, which international platforms must submit by February 26, 2024. Data includes name, address, VAT number, name and IBAN of the bank account holder, income received, fees and taxes paid, property address, rental days, total annual rental payments (nights) for each entry, etc.
For owners and managers of Airbnb properties not registered with the Short-Term Rental Property Register, fines start at €5,000 and go up to €20,000.
Let us remind you that from March 2024, penalties for failure to register in the Real Estate Register for short-term rentals have been tightened. Property managers are subject to a separate administrative fine per year equal to 50% of the gross income of the tax year in which the violation was committed, which cannot be less than €5,000. Once a violation has been established, the short-term rental property manager must take the necessary actions to correct it within 15 calendar days. In case of repeated failure to comply with the conditions within one year from the date of issuance of the act imposing a fine, the fine is imposed at twice the amount originally imposed.
In case of failure to submit or submitting an inaccurate declaration of short-term stay, the property manager will be subject to a fine of two times the rent shown on the digital platform on the day of verification. In case of late submission of the short-term residence declaration, a separate administrative fine of 100 euros will be imposed. No fine is imposed in the case of income received as a result of late declaration of short-term residence.
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