New Taxation Measures Introduced for Greek Airbnb Rentals in Greece, Alongside Other Economic Measures
by GCT
From January 1, 2024, any income generated from three or more Airbnb properties will be subjected to value-added-tax (VAT) and the applicable fees for hotels and rooms for rent.
The introduction of VAT on Airbnb-style rentals in Greece has been a long-standing demand of the Greek Tourism Confederation (SETE) as a means to ensure fairness in the tourism industry. SETE, representing the majority of tourism enterprises in Greece, has been urging the government to revise the existing laws governing short-term rental operations in order to protect tax-paying hotels.
In addition to this measure, the Greek Prime Minister, Mitsotakis, has announced other steps to address the inflation crisis in the country. This includes raising the tax-free threshold by 1,000 euros for families with children and introducing a “Youth pass” program. Under the program, 200,000 beneficiaries aged 18 and 19 will receive 150 euros for tourism, transportation, and cultural activities.
In terms of economic measures, Mitsotakis revealed that there will be an increase in the minimum wage from April. Furthermore, there will be an annual raise in pensions starting from January, and public sector employees can expect a 10.5 percent salary increase as of January 1, 2024.
To ensure stable and reduced prices for essential goods, the government is also planning to implement additional measures.
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