The regulations for short-term letting in Greece are becoming stricter, following the trend in other European countries. The definition of short-term leases has been changed, and a new business code activity number has been introduced. Owners of more than three short-term lease properties must now start a business activity and will be treated as business entities. They will be subject to VAT, a hospitality levy, and a green tax. The municipality tax will be replaced by the green tax levy, which will increase for all types of accommodation. Hotel owners have mixed reactions to these changes, as they see it as fair competition but are concerned about increased costs. Individuals with multiple Airbnb-like properties need to consider the implications of starting a business activity, and legal entities with short-term leases must calculate the VAT burden on their revenues.
Source Ecovis
