Saturday 31 October, 2020

British Virgin Islands and Airbnb sign tax agreement

The British Virgin Islands (BVI) Government and Airbnb have signed an agreement on the voluntary collection of the Hotel Accommodation Tax on transient occupancy.

Premier and Minister of Finance Andrew Fahie revealed this as he presented the 2020 budget in the House of Assembly, yesterday.

Fahie said the agreement was signed on November 20. It was by the Hon Fahie on behalf of the Government while International Senior Tax Manager, Alan Maher signed on behalf of Airbnb.

He commended islanders for their entrepreneurial spirit since they opened their homes to visitors following the devastation caused by Hurricane Irma and Maria in 2017.

According to Fahie, over 2,000 guests booked accommodation through Airbnb between July 2017 and July 2018, with an average stay of four days. The income generated by these visits was used to assist Virgin Islanders in rebuilding after the catastrophic 2017 hurricane season that crippled the islands and accounted for more than $3.6 billion in damages.

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