(Pixabay)

Airbnb collects double the amount of provincial sales tax expected

Airbnb said it has paid out $33.7 million in provincial sales tax

Airbnb says it has paid $33.7 million in provincial sales tax in B.C., and another $9.2 million in municipal and regional district taxes.

The short-term rental company outlined the costs in a statement released Thursday, covering the period of October 2018 to September 2019. The PST total adds up to nearly twice what the provincial government was expecting.

The money is a result of a tax agreement between the province and Airbnb that the company collect eight per cent in PST and up to three per cent in municipal and regional district tax from customers.

Of the municipal and regional sales tax, $3.5 million went to Tourism Vancouver, and the remaining $5.7 million was distributed to cities and regional districts around the province.

Airbnb said around 500,000 people stayed at its Vancouver rentals in 2018, with two million guests around B.C.

READ MORE: Airbnb to collect provincial sales tax in B.C.


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