Renting out rooms from own property

Question:
Hello!

I plan to rent guest rooms in my own house as an individual. Object category class B.

Please for assistance regarding the reporting of the funds received from the activity.

What financial document will I need to provide to the tenant? Where, when and how is it reported to the National Revenue Agency? Is an annual tax return completed? I'm interested in everything related to this, so that I'm in good standing before the law.

Thanks in advance!

Answer:

Hello,

What you have to do is to submit a patent tax declaration to the relevant municipality and pay it accordingly. For the time you are active, you will have to pay insurance contributions, and for the corresponding months you will have to submit to the National Revenue Agency a declaration form 1. At the end of the year, you will also have to submit an annual tax return in which you declare that you have patent tax and carry out an annual equalization of the insurances in accordance with what insurance contributions you made during the year and what is the actual realized income. If you rent out the rooms through the Booking and/or AirBnb platforms, you will also need to register for VAT and submit monthly VAT returns. You will have to declare each overnight stay on the online platform of the Ministry of Tourism, on the basis of which you will also be calculated a tourist tax, which you will owe in the relevant municipality. You are not obliged to issue a document to the customers themselves, but if they wish, there is no obstacle to issue a receipt, invoice or other document.

We hope we have been helpful!

Greetings!