From March, strict controls to detect undeclared properties, fictitious data and irregularities in short-term property leases begin
With the expiration on February 28 of the deadline for finalizing last year’s short-term rental data on the special platform of the Independent Public Revenue Authority (AADE), the Authority’s strict controls will begin to detect undeclared properties, fictitious items and irregularities.
According to ERT, the auditors will proceed to cross-check the data declared, with the data that AADE will receive from the Airbnb, Booking.com and VRBO platforms, as provided for in the cooperation protocol they have signed with each other.
In the first phase, the controls will focus on owners and managers of type properties Airbnb who have not declared the Property Registry Number (PRN) on the online short-term rental platforms or have declared incorrect information about their properties.
Then the checks will be extended to the incomes that the owners of short-term rental properties will show to the IRS. If it is established that the properties have either not been declared in the Short-Term Property Registry or have been posted on digital platforms without the Short-Term Property Registry Number (SMA) or the Special Operating Sign (ESL) or the Unique Notification Number (SIN), then it will the details of the properties and managers are sent to the Tax Authorities for the imposition of extra taxes and fines of up to 5,000 euros.
The fine is imposed on the “Manager” and in case it does not appear that the “Manager” is a sublessee or a third party, the fine is imposed against the owner or usufructuary of the property.
From the detection of the violation, the “Administrator” is obliged to take the necessary compliance actions within 15 calendar days.
In addition to the fines, those who do not make the necessary corrections, declaring the AMA or correcting errors and omissions in their real estate data, will is deleted and their real estate from digital platforms.
In the event that the same violation is found to have been committed again within one year of the issuance of the act imposing the fine and since the 15-day deadline for the completion of the compliance actions of the “Administrator” has passed, the fine shall be doubled and in the case of each subsequent for the same violation at four times the amount originally imposed, i.e. 20,000 euros.
Source: Skai
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