Virgin Islands and Airbnb sign first tax agreement in the Caribbean
ST THOMAS, USVI -- The government of the US Virgin Islands and Airbnb have confirmed the first tax agreement in the Caribbean, which will allow the platform to collect the territory's 12.5 percent hotel room occupancy tax on behalf of hosts and remit the funds to the Virgin Islands Bureau of Internal Revenue (BIR).
The agreement will also create a framework to help promote tourism to the US Virgin Islands, highlighting the cultural and historical heritage of this world-class destination.
Airbnb has been investing in partnerships in the region to support a thriving community of homeowners who are renting their spaces and creating new flows of local economic benefits.
Agreements have been signed with several countries and with the Caribbean Tourism Organization (CTO) to create policy frameworks for this growing hospitality trend of home sharing. Friday's announcement spearheads the company's efforts in the Caribbean to collect and remit lodging taxes on behalf of hosts, allowing hosts to comply and give back to their communities.
Read more: http://www.caribbeannewsnow.com/topstory-USVI%2C-Airbnb-sign-first-tax-agreement-in-the-Caribbean-34497.html