Society

Only half of Faroese Airbnb hosts pay tax on their rental income…while the other half does not

According to a Taks survey, only 50% of Faroese Airbnb hosts pay tax on their rental income.

The survey also shows that the number of rental properties in the Faroes has doubled every year since 2015.

In December 2018, 551 rental properties were registered with Airbnb. These properties are owned by 430 persons or organizations.

In the wake of this survey, Taks – the Faroese tax and custom authorities – has sent out letters to all Faroese Airbnb hosts. Taks demands that they include their rental income in their 2018 income tax returns.

A failure to comply with this demand might lead to a DKK 5.000 fine.

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