Revenue Commissioners issues warning to those profiting from AirBnB

People renting out rooms to holidaymakers on AirBnB have been warned that the Revenue Commissioners could begin monitoring the company's website to ensure they are paying tax.

Around 4,500 Irish properties are listed on the website, which allows people to rent out rooms or entire houses on a short-term basis.

According to the Irish Independent, those renting rooms may be liable for capital gains tax if they sell a private property that has previously been rented out.

Those using the site are being advised to declare the rental income for tax purposes and keep a record of any expenses incurred.