This is the best summary I could come up with:
ROME, Oct 28 (Reuters) - Italy’s government plans to hike taxes on short-term rentals by people letting out more than one flat, a draft of the 2024 budget seen by Reuters showed on Saturday.
The move comes in the wake of criticism of Airbnb (ABNB.O) and other short-term rental platforms for contributing to a shortage of affordable housing for residents in the most popular tourist destinations.
Italian legislation allows owners to rent out their apartments and pay a tax rate of 21% on earnings.
Prime Minister Giorgia Meloni intends to raise that band to 26% “in the case of the short-term rental of more than one apartment in each tax period,” the draft showed.
However, the government has scaled back its initial plans as previous drafts reported by Reuters envisaged increased taxation also applying to short-term rentals of single apartments.
Meloni told reporters on Saturday that the budget bill for 2024 agreed by her cabinet would be put before parliament on Monday.
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The original article contains 171 words, the summary contains 166 words. Saved 3%. I’m a bot and I’m open source!
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For once, taxing short term rental more than long-term rental doesn’t seems absurd, and it seems like other countries should do the same
The government is desperate after money. The country has an enormous public debt, part of it systemical, part due to the previous populist government which distributed money carelessly (in a Perón style dictatorship). Short term rentals makes people exploit having houses in historical cities (or neighborhoods) to profit, which is a quite a nasty way to make money at tourists’ expenses, damaging the already existing receptive industry which is already regulated and taxed. I’m not defending this government but this is one of the few bits of the economic budget law that makes sense.
