Portugal “loses lots of money” with Airbnb: rule changes afoot

Airbnb makes millions of euros out of holiday lettings in Portugal, but the State gets no slice of the action. The digital platform’s fiscal address is in Ireland – where company tax rates are much lower than they are here, and its marketing company is based in Spain.

Now analysts have pointed out “Portugal is losing lots of money”.

Changes in tax law to ‘catch’ digital businesses are in the offing.

Explains António Gaspar Schwalbach of law firm Telles, fiscal legislation has to be “rethought” in the light of booming e-commerce.

The issue “has to be seriously discussed”, he told reporters, suggesting it is “highly likely” that rules will be created to tax digital businesses like Airbnb “in the coming years”.