The short-term rental market in Germany has surged, with around 215,000 active Airbnb listings. Landlords benefit by earning income while away, enhancing home security with transient guests. However, tax declaration is critical; failure to report income exceeding €520 can lead to severe penalties, including fines up to €500,000. Authorities are vigilant, often targeting rental platforms to ensure compliance. If earnings are below the threshold, keep records of transactions. Knowledge of local regulations is essential to avoid tax evasion accusations and severe consequences.
If you earn less than €520 a year from renting living space on an irregular basis, you do not need to include this information in your tax return.
Fines for failing to declare taxable income from renting living space can be as high as €500,000, depending on where you live in Germany.
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