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Airbnb begins paying three percent tax agreement with state

Cancun, Q.R. — Airbnb is officially paying 3 percent of its earning in taxes to the state of Quintana Roo.

As per an agreement made in August, the state and the online reservation company came to an agreement to pay a 3 percent tax on profits to the state beginning October 1. Through the agreement, Airbnb will folk over approximately 18 million peso per year to the state in taxes.

The contract was put into place between the Ministry of Finance and Planning and the individuals or companies that provide the service. This arrangement means that Quintana Roo has joined a list of more than 310 jurisdictions globally where Airbnb remits taxes on behalf of hosts and guests.

The 3 percent tax per night will go directly to the state coffers.

State officials say Airbnb has approximately 12,000 units they advertise as available in the state of Quintana Roo with an average occupancy rate of 80 percent. In 2016, Airbnb registered 271,000 guests throughout the state.