I'm thinking there will be some listings coming off the site if this is correct
Why would they come off the site ? So they, AirBnB owners, just pony up and pay the taxes even if its up to the max of 50% to include interest and penalties, however they are still generating very substantial income. Owners were, in fact, wrong to not declare the income in the first place, and AirBnB are now providing documentation to municipalities where required. I personally dont forsee much if any change if only tax implications are affected. Income is income, ie taxable. AirBnB is very profitable. Last year I paid €2150.00 for a week near Westport via AirBnB for a small 3 bedroom house. The owner is always fully booked from April to October, slower in winter. Even if he pays 30-35% or even 50% in taxes he still makes a serious chunk of change. I cannot think he simply pack it in due to taxes.
Zoning changes and other redistricting laws may in fact be more impactful though.
In some cases, having 30-50% less income may well make an owner feel like it's no longer worth the bother. It's the same as being asked to take a substantial pay cut. For some people, they wouldn't be able to make ends meet.
Thanks for posting gaildorf, delighted to see that.
I have no time for people who try to defraud the state. It's not fair on those that do pay their fair share of tax - especially ordinary B&B owners.
If paying the tax was no big deal to them they would have done it from the beginning- I wouldn't be surprised if a lot of people find it's not worth the effort anymore. Between that and the planning crackdowns things will probably change quickly on that front.
That was an interesting read dubfam, i had to read part of twice as I thought I was losing it .......163000 for one year ................It doesn't say how many apts they had & if they were for tourist accommodation but that is a hell of alot of money
oh my goodness, sounds like there are some folks with big problems coming up.....