Greek tax authorities are closely monitoring Airbnb rental income, with the Independent Authority for Public Revenue (AADE) set to conduct extensive electronic cross-checks. These audits will compare reported short-term rental earnings with the income taxpayers declare in their 2024 tax returns. Property owners and managers who rent out accommodations on short-term rental platforms must finalize their 2024 rental income and lease details in the AADE registry by February 28, 2025. The figures submitted through the online platform will determine the taxable income and final tax liability.
According to AADE data, over 2.2 million initial short-term rental declarations were submitted in 2024, with total earnings reaching €870 million, a rise from €750 million in 2023. These earnings will be reflected in this year’s tax declarations and taxed from the first euro at rates between 15% and 45%.
By the end of February, property owners must verify the accuracy of their declared rental earnings to correct any errors before finalizing their 2024 reports. Those who fail to confirm their details risk being taxed on 100% of the initially declared income, even if they haven’t received all the reported earnings.
Property managers can update incorrect entries (such as co-owners’ income shares) without penalties and without changing the Property Registry Number (A.M.A.). Once finalized, these declarations will be subject to fiscal audits to detect any hidden rental income.
AADE will cross-check reported data with figures obtained from Airbnb, Booking.com, and VRBO. If properties are found to be:
1. Unregistered in the Short-term Rental Property Registry
– Owners face an annual fine equal to 50% of their gross rental income, with a minimum penalty of €5,000.
– Repeat offenses within one year double the initial fine.
2. Incorrect or missing declarations
– A fine twice the rental amount listed on the platform applies for inaccurate or missing short-term rental declarations.
– Late filings incur an administrative penalty of €100.
The property manager is primarily responsible for fines. However, if no official manager is designated, penalties will be imposed on the owner or usufructuary.
Failure to comply with these regulations could lead to significant financial penalties for Airbnb hosts operating in Greece.
