Does booking.com remit the taxes to the authorities or do I?
From the total amount collected from the guest, what is my final payment that is transferred to my bank account? Is 15% commission, 3% credit card fee , and taxes deducted from my final payout?
I use Payments by booking.com commission and fees are deducted from final payout.
In my country, Remittance of taxes is my responsibility every month.
Wish you well.
Hi Maria and readers,
And if we get our payments, we actually pay tax on it on top, since this tiny business is set up under the umbrella of the farm and is not a private entity.
So, therefore we can't go too cheap since there will not be much left.
Most of us have a mortgage to pay off and pay for:
Groceries (and petrol to go to the shops)
Cleaning products for the house
Washing machine / powder (at peak times washing everyday one load) and drying towels.
Wood for fireplace
Computer (!) and or other devices like cellphone, tablet.
Payment device (takes credit cards etc)
Also, we do pay the council every year as well. (rates) for rubbish pickup, water etc
Cleaner if not doing it yourself
Alternative host if not doing it yourself
There is a big difference between gross and net in this industry
I have heard, to make money for a living you need at least 14 beds.
(being paid per person)
And that could well be right!
Barry, you may have the tools to calculate this properly when winter and not too busy.
Dear Aaltje, you are so right...
As private owners we have to pay 15% taxes on top of the gross amount including the commission!!!
At the end of the day I don’t if it’s worth it!!!
The simple answer is no as guest is charged a rate then the tax% for the location.
The commission , fees are then against that.
Typically then you or your accountant will then write off your allowed expenses against vat bill to reduce how much vat you then pay monthly or annually to local tax office
So why do we keep hosting?
Thats what my hubby says also ....why???
I am giving it a try!!!