Frequently asked questions about Pillowhite
Pillowhite is a small company with years of expertise in the hospitality industry and your apartment and its guests will feel like home.
Pillowhite Apartments are exposed to the most popular distribution channels world wide and our own dynamic website. Our team reviews the market on a daily basis to secure that our rates reflects the market and the right occupancies are claimed.
We are as far as your phone device is. Give us a call and we will be there to discuss with you the prospects of entering your apartment in the occasional rentals market.
A tax rate ranging from 15% to 45% will be paid this year by taxpayers who have earned income from short-term lease agreements for property owned in 2017.
For income up to € 12,000, tax is charged at a rate of 15%. For example, a taxpayer earned last year income from the short-term lease of his property of €10,000. The tax he will be asked to pay for this income is €1.500 euros.
A portion of annual income is taxed at a rate of 35% from €12.001 to €35 000. A 45% rate is applied to the portion of annual income over €35,000.
The above rates apply if the property is rented furnished without the provision of any service other than bed linen.
If any other services are provided, this income will be treated as income from a business activity and taxable by:
• 22% up to the first €20.000
• 29% in the section from €20.001 to €30,000
• 37% in the section from €30.001 to €40.000 and
• 45% in the section over €40.000
AADE (Independent Authority of Inland Revenue) decision: POL amended. 1187/2017
The date until which the “Short Term Leaseholder” finalizes the image of the “Short Term Real Estate Registry” is the February 28th of the year of filing the income tax returns. This is stipulated in a decision taken by the Governor of PPC G. Pitsillis, which amends the POL. 1187/2017, concerning the short-term lease of properties.
That decision provides inter alia the following:
• Persons who, in order to conclude Short Term Leases, have made or posted a property on a digital platform from 1/1/2018 to 30/11/2018, shall be registered in the “Short-Term Real Estate Registry” until 30 November 2018.
• A “short-term residence statement” is submitted by 30 November 2018 for the tenant to leave the property until October 31, 2018, which does not include any leases already included in the “Short-Term Residence Statement” for the same, above, period.
Please note that for the tenant departure from 1/11/2018 and until 30/11/2018, “Short-Term Residence Statement” is submitted by December 20, 2018, as per the circular POL. 1187/2017.