Mexico City brings in new tax, occupancy rules for rental platforms like Airbnb and Booking (updated)

trivago NV

04/04/2024 15:17

(Adds details on new norms, background)
       MEXICO CITY, April 4 (Reuters) - Mexico's capital
revised regulations for rental platforms such as Airbnb and
Booking, requiring property owners to report rental occupation
data and comply with local taxes, the official gazette showed on
Thursday.
    Mexico has long been a top global tourist destination, famed
for white sand beaches and ancient ruins. In recent years, the
capital Mexico City has emerged as a growing attraction for both
travelers and so-called digital nomads who can work remotely.
        The growth in foreigners in Mexico's capital,
concentrated in a handful of neighborhoods, has also stoked a
backlash, with some locals complaining that popular apps like
Airbnb  ABNB.O , Booking  BKNG.O  and Trivago  TVA0y.F 
contribute to gentrification and spiking housing costs.
  
        Under the new rules, hosts will have to sign on to a
registry to operate and need to update it every two years with 
information such as how many times it has been occupied and
complaints received.
  
        Tourism contributes more than 9% of economic activity in
the capital, known for numerous cultural attractions, its food
scene and temperate climate.
  

 (Reporting by Raul Cortes Fernandez and Diego Ore; Editing by
Chizu Nomiyama and Stephen Eisenhammer)
 ((Valentine.Hilaire@thomsonreuters.com;))