British authorities hit Airbnb UK with an extra tax bill of 1.8 million pounds ($2.3 million) last year, the home rental company's accounts showed on Tuesday, following an investigation into the firm.
LONDON - British authorities hit Airbnb UK with an extra tax bill of 1.8 million pounds last year, the home rental company’s accounts showed on Tuesday, following an investigation into the firm.
“During 2019, the Company received a revised assessment from HMRC which resulted in additional tax payable of 1.8 million pounds,” Airbnb UK said in their accounts, which were reviewed by Reuters, after two years of contact with HMRC about its tax arrangements. Outside of the extra tax bill for last year, the filings showed that Airbnb UK paid 1.1 million in tax on its profits in the year to Dec. 31 2019, compared to 146,000 pounds in 2018, though profits also rose sharply over the year to 5.6 million pounds from 455,000 pounds.
The company also said it would partner with HMRC and share data on the earnings of hosts for its platform covering 2017/18 and 2018/19.
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