Aiming to tackle illegal home rentals and collect millions of euros in lost revenue, Greece’s Independent Authority for Public Revenue (AADE) is finalizing an electronic registry that will include all property owners leasing out through sharing economy platforms.
Hosts who do not comply will face a fine of up to 5,000 euros.
Landlords renting out their homes as tourist accommodation will be required to declare their properties on the registry and be taxed at a progressive rate of 15-45 percent for each transaction to be submitted to authorities each quarter.
Homes can be leased out for a total of 90 days per year in urban and popular tourist areas and for 50 days at smaller destinations. Proprietors will also be required to provide information on tenants and duration of stay.
In the meantime, ministerial decisions are in the pipeline in efforts to regulate short-term rentals. Once the registry is in place, the AADE will be able to identify violations of legislation including hosts who have not registered, the lease of more than two homes per individual and rentals exceeding the duration set by law.
Until now the AADE’s current platform did not have a ‘daily lease’ option.