Disclosure of Tax and charges

Steve306
Level 3
Sainte-Maxime, France

Disclosure of Tax and charges

I manage several villas in the South Of France on behalf of owners; I do all their marketing and collect the rental income which after expenses are deducted, it is paid directly to a variety of accounts in France, UK and some tax havens as directed by their accountants.

 

What needs clarifying for my clients, is what information / financial data do Airbnb actually disclose to the respective Tax authorities and what are the exact FX charges /fees deducted for transferring monies collected and paid into a bank account. Example: Euros collected paid into a £Sterling account. It appears nothing is disclosed, this I believe is illegal in the UK / EU. You just can't deduct an amount without disclosing how it's calculated. 

 

 

2 Replies 2
David126
Level 10
Como, CO

Probably best to review AirBnB terms, I do not believe they make a FX fee charge.

 

I thought they collected VATso obviously declare.

David
Steve306
Level 3
Sainte-Maxime, France

So i received €8000 euros for a rental, they transferred this to my UK bank account £6677, given the current exchange rate are 1.10 or even less ,   yet this transfer was made at an equivalent rate of 1.20 which in cash terms is the equivalent of charging  £600, there was no warning this would happen and i could have directed the money to a UK  Euro account . What is making me so angry is there is no breakdown given, no details of the exchange rate charged, the money is just taken without explanation. I am all for accepting a fee /charge but this is very excessive, these charges are not displayed anywhere just hidden away somewhere, I have asked for a breakdown, but so far no answers.

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