In the framework of the sharing economy, the decision regarding short-term property rentals was signed by the Head of the Independent Authority of Public Revenues. This decision, first of all, determines the responsibilities of the involved Parties, and secondly, the procedure in the short-term accommodation Registry, and thirdly, the declaration of short-term stay.
The ultimate goal is to create a procedure that will be processed online, through the website of the aforementioned Authority. At the same time digital platforms were created.
The validity of this decision applies to short-term rentals, that will be concluded starting from 01.01.2018, for the 2017 fiscal year the income will be declared as per the tax declaration forms.
The responsibilities of the administrator (who is either the owner of the property, or has the usufruct of the property, or is a subtenant or a third party), who undertakes to take the following steps:
- Registration in the short-term accommodation Registry
- Provide the declaration of short-term rental to each tenant
- Registration of the details in the short-term accommodation Registry
- Public contribution into the Loans and Deposits Fund of the amount, attributable to the unknown income beneficiaries
In case the Administrator leases several spaces in one property, it is highlighted that they are required to receive a separate number in the Registry for each of them, because each property is required to have one administrator.
For each short-term rental, the following details must be registered in the short-term declaration:
- Registration number in the short-term accommodation Registry
- The total amount of the agreed rent or the total amount, in accordance with the cancellation policy
- Name of the digital platform
- Details of the tenant
- Date of commencement and end of the lease
- The process of rent payment.
Finally, note, that in case of violation of either:
- Non-inclusion in the short-term accommodation Registry
- Not hanging the registration number in the in the short-term accommodation Registry in a prominent place, as well as the Special License number
An administrative fine of €5000 will be imposed on the managers.