Over 73,000 property managers and owners working for short term rental and “forgot” to declare income in the amount of 102 million euros revealed in 2022 Independent State Revenue Administration.

Data on undeclared income came to AADE from digital platforms and was compared with declared income.

After using the data received by AADE from digital platforms Airbnb Ireland UC, Booking.com BV, VRBO Expedia Group Vacation Rentals Ireland Limited (based on collaboration protocol) emails were sent to 73,258 owner-managers.

All of them complied with the requirements by submitting a new declaration of income from short-term rentals and business activities for the accommodation of tourists for a total of 102 million euros.

As emphasized in the tax administration, in 2022, inspections were aimed mainly at property managers. At the same time, as part of the cooperation protocol, files were sent to the platforms requiring their administrators to deactivate a total of 14,736 real estate listings, as they either did not have Property Registration Number (RMA) or The electronically entered AMA is invalid.

Emails have also been sent to the luxury villa management websites for compliance with domestic relevant legislation.

Information sent by short-term rental platforms to AADE was used.

In previous years, AADE has identified dozens of luxury home rentals for large amounts of money, in particular more than 10,000 euros per day, that were not declared to the tax office.

And this year, according to sources in the tax administration, using data from digital platforms, websites, as well as information from third parties, checks will be carried out in all island regions in order to protect the interests of the state.

Especially this year and with regard to the income generated by those engaged in short-term rentals, the checks will be thorough and lengthy.

This means that, in addition to checking the prior year’s reported income using smart tools, each month, the reviewing authorities will search for data to identify those who evade declaring information about their holdings in the Register.

With short-term rental turnover exceeding 2.2 billion euros, significantly higher than in 2019, the tax administration is planning to cross-check the lease with the information that taxpayers will declare on this year’s tax returns, in order to identify those who are hiding from in tax office the income they receive from renting out their property. This data will be compared with the data received from the platforms, as stipulated in the cooperation protocol signed by them.

In cases where it is found that properties have not been declared in Register of short-term accommodation objectsor hosted on digital platforms without explicit mention of it Property Registration Number (RMA) short stay or Special Operating Signal (ESL) or his Unique notification number (UNIN)then the details of the property and the “managers” are sent to the preschool educational institution and the owners are called to the tax office to give explanations.

Based on the foregoing, those who discover errors and omissions in the data on property and income that they declared in the initial declarations should correct them before the completion of the declarations.