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Professional Accounting Services by Camaraki

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Frequently Asked Questions

When is a property lease defined as short-term in the context of the sharing economy?

It concerns leases of real estate concluded through digital platforms for a specific period of less than one year and where no services other than accommodation and bed and breakfast are provided.
Short-term leases concluded privately and not through digital platforms are treated as common residential leases and are declared with a Real Estate Lease Information Statement, unless other services are provided, in which case the income is considered a business activity (POL.1187/2017).

Is income from Short Term Hire subject to VAT?

No. (POL.1059/2018 "Application of VAT provisions to short-term leases of real estate in the context of the sharing economy").

Are there any restrictions other than the rental period and the provision of bed linen?

So far, no, but by joint decision of the Ministers of Economy and Development, Finance and Tourism, for reasons related to the protection of housing, geographical areas may be defined where restrictions on the availability of real estate for short-term rentals will apply as follows:
- No more than two (2) properties per income beneficiary's Social Security number shall be allowed for short-term rental.
- The lease of each property shall not exceed ninety (90) days per calendar year and for islands of less than ten thousand (10,000) residents, sixty (60) days per calendar year. The duration of the previous subparagraph may be exceeded if the total income of the lessor or sub-lessor, from all the real estate available for lease or sub-lease, does not exceed twelve thousand (12,000) euros in the relevant tax year.

How is income earned from the short-term rental of property under the sharing economy taxed?

- Up to EUR 12,000, at a rate of 15%
- From EUR 12.001 to EUR 35.000, at a rate of 35%
- From EUR 35.001 and above, at a rate of 45%

I manage a few properties. Is it worth it to open a company?

Because the factors for each of us are different, our company having experienced accountants - consultants undertakes to examine all the parameters to guide you in making the right decision.

Our Services:

Tax Preparation and Filing

From individual tax returns to business filings, we ensure accuracy and compliance while maximizing deductions to optimize your tax outcomes.

Financial Consultancy

Personalized financial strategies and consultancy services tailored to your unique needs, ensuring financial stability and growth.

Business Accounting

Comprehensive accounting services for businesses, from bookkeeping to financial statement preparation, providing clarity and insight into your company's financial health.

Tax Planning and Advisory

Strategic tax planning to minimize tax liabilities and maximize savings, offering proactive advice and solutions for long-term financial success.

Compliance and Regulatory Assistance

Guidance and support to ensure compliance with financial regulations, easing the burden of complex financial and regulatory requirements.

Estate Planning and Wealth Management

Assisting individuals and businesses in creating comprehensive estate plans, managing assets, and strategizing for the preservation and transfer of wealth across generations.

Why Choose Camaraki?

At Camaraki, we understand that navigating the intricate landscape of finances and taxes can be daunting. Our dedicated team of financial experts is here to alleviate that stress and help you achieve your financial goals.
 Our seasoned professionals bring years of experience and in-depth knowledge to every financial challenge.
Personalized Approach
Tailored solutions designed specifically for your financial situation, ensuring a comprehensive understanding of your needs and goals.
We prioritize accuracy, timeliness, and confidentiality, providing peace of mind as we handle your financial matters.


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