Current:Home > NewsAirbnb agrees to pay $621 million to settle a tax dispute in Italy-Angel Dreamer Wealth Society D1 Reviews & Insights
Airbnb agrees to pay $621 million to settle a tax dispute in Italy
View Date:2024-12-23 20:48:57
ROME (AP) — Short-term rental platform Airbnb has agreed to pay 576 million euros ($621 million) to settle a years-long dispute over unpaid taxes in Italy but said it won’t try to recover the money from its hosts.
In November, Italian prosecutors said AirBnb owed about 779 million euros ($840 million) in short-term rental taxes it had failed to pay on behalf of Italian landlords who used the platform between 2017 and 2021.
The San Francisco-based company said in a statement on Wednesday that it was working on introducing new tools for hosts to have their taxes withheld automatically and paid to the Italian tax authorities on their behalf.
“The vast majority of hosts on Airbnb in Italy are ordinary families that are using the platform for supplemental income,” the company said in its statement. “We hope the agreement with the Italian Revenue Agency and recent legislative changes will provide these families with certainty about the rules around hosting for years to come.”
The Court of Justice of the European Union ruled in 2022 that member countries could require short-term rental platforms to collect income taxes.
Airbnb said it welcomed clarity provided by the Italian government in next year’s budget law on how platforms should withhold income taxes for non-professional hosts in Italy.
“These improvements will make it easier for historic centers such as Venice and Florence to see who is hosting and how often, and to develop proportionate policy solutions in response. Airbnb is committed to working with Italian authorities to make the rules a success,” the company added.
Italy is a key market for Airbnb, with tens of thousands of hosts using the platform to rent their properties.
The far-right government led by Premier Giorgia Meloni has pledged to crack down on tax evasion related to short-term rentals and aims to raise the tax rate for owners from 21% to 26%.
veryGood! (2158)
Related
- Kansas basketball vs Michigan State live score updates, highlights, how to watch Champions Classic
- Is this the perfect diet to add to your New Year's resolution? It saves cash, not calories
- Kamar de Los Reyes, 'One Life to Live' soap star and husband to Sherri Saum, dead at 56
- Manchester United says British billionaire buys minority stake
- Mississippi governor intent on income tax cut even if states receive less federal money
- Movie Review: ‘The Color Purple’ is a stirring big-screen musical powered by its spectacular cast
- Odds for more sports betting expansion could fade after rapid growth to 38 states
- Prosecutors oppose Sen. Bob Menendez’s effort to delay May bribery trial until July
- 13 escaped monkeys still on the loose in South Carolina after 30 were recaptured
- How removing 4 dams will return salmon to the Klamath River and the river to the people
Ranking
- What to know about Mississippi Valley State football player Ryan Quinney, who died Friday
- California man stuck in seaside crevasse for days is rescued in time for Christmas
- Mariah Carey and Bryan Tanaka Break Up After 7 Years of Dating
- Chiefs coach Andy Reid defuses Travis Kelce outburst, chalks it up to competitive spirit
- Horoscopes Today, November 12, 2024
- Almcoin Trading Center: Trends in Bitcoin Spot ETFs
- Russian presidential hopeful loses appeal against authorities’ refusal to register her for the race
- As social media guardrails fade and AI deepfakes go mainstream, experts warn of impact on elections
Recommendation
-
The Surreal Life’s Kim Zolciak Fuels Dating Rumors With Costar Chet Hanks After Kroy Biermann Split
-
Live updates | Israel’s forces raid a West Bank refugee camp as its military expands Gaza offensive
-
Don't Miss J.Crew’s End of the Year Sales Where You Can Score 70% off Clearance, 50% off Cashmere & More
-
1-2-3 and counting: Las Vegas weddings could hit record on New Year’s Eve thanks to date’s pattern
-
Bull doge! Dogecoin soars as Trump announces a government efficiency group nicknamed DOGE
-
Map shows where blue land crabs are moving, beyond native habitat in Florida, Texas
-
Missing pregnant Texas teen and her boyfriend found dead in a car in San Antonio
-
Pistons try to avoid 27th straight loss and a new NBA single-season record Tuesday against Nets