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Sunday, September 24 2017 @ 04:25 AM AST

The Bahamas seeks to regulate, tax AirBnB and other vacation home rentals

Bahamas Govt issues statement yesterday:

* MoU signed Aug. 9 "to regularize vacation home rentals" and enhance promotion of tourism to The Bahamas

* Airbnb will share aggregate Bahamas data with Govt, work out how Airbnb will collect and remit applicable taxes to Bahamas Govt

* Airbnb has 1,900 listings in The Bahamas
- - typical host earns avg. of US$6,000.00/yr & guests stay avg. 4.6 nights
- - guest arrivals to The Bahamas through Airbnb in last 12 months grew 95%

* The Bahamas tourism minister says vacation home rentals "sector is unregulated and operates without taxation"
- - Bahamas to ask all proprietors and operators of owner occupied rental homes to register with the Hotel Licensing Department of the Ministry of Tourism (including those not on Airbnb, as there are others)
- - The Bahamas to introduce laws to make these business owners pay tax

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