Donegal properties listed on Air BnB could be liable to pay income tax

airbnbPeople renting out rooms or homes on Air BnB could be liable to pay income tax of up to 50 per cent on the profits.

Around 4 and a half thousand Irish properties are listed on the website, 79 of those in Co Donegal.

Air BnB allows people to rent out rooms or entire houses on a short term basis.

Revenue has advised that those renting rooms could be liable for capital gains tax if they sell a private home that was previously rented out.

A Director at Mespill Taxation Advisors, Leigh Cullen, says Revenue advises that providing guest accommodation on the site is considered to be trading as a guest house, which is liable to income tax....