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Home / SmartTech / Airbnb says it has paid $ 1 billion in local taxes on behalf of hosts since 2014

Airbnb says it has paid $ 1 billion in local taxes on behalf of hosts since 2014



Peer-to-peer lodging marketplace Airbnb announced $ 1 billion in taxes on behalf of the past four and a half years.

After a lengthy fight against local authorities' efforts to get it to serve as tax collector, the San Francisco-based company began collecting hotel-style transient occupancy taxes (TOT) directly from guests in Portland, Oregon back in 2014. In the four-plus years since, it has expanded the tax-collection initiative to cover more than 400 local jurisdictions, from North America and Europe to Brazil and Bermuda.

As Airbnb gears up to go public in 2019, it is already in a healthy position financially, given that it is one of the rare profitable "unicorns "Out there. The company has raised $ 4 billion since its inception, with its most recent $ 1

billion, and it has turned its first profit in Q2, 2016, followed by its first full year of profitability in 2017. [19659002] By contrast, fellow San Francisco-based sharing economy companies Lyft, which is filed for its IPO yesterday, and which is also readying its IPO for 2019, are not yet profitable.

Battles

However, Airbnb is Afterwards Airbnb delisted settlements in the West Bank ,

Ahead of it's IPO next year, Airbnb is clearing up for a major charm offensive to show the positive impact it has on communities where it operates.

"Home-sharing democratizes revenue by providing an increasingly valuable source of funding for governments around the world". the company said in a blog post, "When Airbnb collects and remits on behalf of our hosts, we help ensure a streamlined process that lightens the administrative burden for hosts, as well as state and local governments."


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