Airbnb eyes tax agree­ments with 700 cities world­wide

The Myanmar Times - - International Business -

HOME shar­ing site Airbnb aims to ex­tend its net­work of tax agree­ments to 700 cities by the end of next year, the Fi­nan­cial Times quoted its chief ex­ec­u­tive as say­ing.

The com­pany has al­ready clinched 200 tax agree­ments that al­low it to col­lect and re­mit ho­tel taxes to lo­cal au­thor­i­ties, Brian Ch­esky told the news­pa­per.

The 700 cities where it is now aim­ing to have se­cured tax agree­ments by end-2017 gen­er­ate more than 90 per­cent of its rev­enue.

Airbnb is in the crosshairs of many cities around the world, where tourism in­dus­tries see the site, lacking the le­gal and tax con­straints of com­mer­cial en­ter­prises, as threat­en­ing rev­enues.

“When you have a tax agree­ment, you have an ex­plicit agree­ment, there­fore there is not an ex­is­ten­tial risk,” Mr Ch­esky said.

In France, Airbnb’s sec­ond big­gest mar­ket af­ter the United States, the com­pany set up the au­to­matic col­lec­tion of a levy for overnight stays from users in Paris and Cha­monix in 2015.

It has since ex­tended this to other big towns.

Airbnb op­er­ates in more than 190 coun­tries and has been val­ued at an es­ti­mated US$30 bil­lion. –

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