• 19/01/2024

Short term rental income

The income that individuals obtain from the short-term rental of up to two properties is classified as real estate income. The above applies on the condition that no services are provided, apart from the supply of bed linen, as under the previous framework. Income obtained by individuals from short-term rentals of three or more properties is now classified as business income rather than real estate income, as was the case until now. As a result, personal income tax is now levied on a progressive scale from 9% to 44%, after deducting business expenses.