The Greek state could have obtained revenues of more than 1 billion euros in total from 2015 to 2017 had it imposed the same tax on properties advertised on short-term leasing online platforms that it imposes on hotels, according to a Grant Thornton survey for the Hellenic Chamber of Hotels.
Earnings from short-term property rentals have this year exceeded 1.7 billion euros according to estimates, but the government has failed to tax this income.
The study showed that if those properties – advertised on platforms such as Airbnb and Homeaway, among others – had the same value-added tax, council tax and owners’ income tax as hotels directly through the online platforms (to stop revenues from being concealed), then the state could net at least 341 million euros per year in taxes. That would not only boost the state coffers, but might ease the unfair competition against hotels.
The chamber’s head, Giorgos Tsakiris, noted on Tuesday that short-term leasing has rapidly turned into a major activity with a huge turnover.