Vacation rental platform Airbnb (ABNB.O) said on Wednesday it would pay 576 million euros ($621 million) to the Italian Revenue Agency to settle outstanding income tax obligations for the 2017-2021 tax years. Airbnb, which has its European headquarters in Ireland, did not admit any liability as part of the settlement, which did not include 2022 and 2023.
The amounts that may need to be paid for these two years could be "material", Airbnb said in a regulatory filing. The settlement regards the tax obligations of owners, or "hosts", in Italy who use Airbnb to rent out their property. Airbnb withholds part of the income from these hosts and in return assumes their tax liabilities.
Airbnb said it was not seeking to recover the sum from its hosts.
Last month, a judge in Italy ordered the seizure of 779.5 million euros from Airbnb's Irish headquarters for alleged tax evasion.
