Airbnb Ireland sets aside $1bn to deal with tax investigations

Last year, Airbnb Ireland made a €576m tax settlement after audit by the Italian tax authorities over the firm’s obligations to withhold and remit host income tax, including tax, interest and penalties

Airbnb set up its European headquarters in Dublin in 2013 and the number employed by the Irish-based firm increased from 380 to 391 as staff costs rose from $56.48m to $59.89m. Picture: Gabby Jones/Bloomberg

The Irish unit of online accommodation rental service Airbnb has set aside $1.002bn (€950m) to deal with tax investigations across the countries the company and its subsidiaries operate in.

This is revealed in new accounts filed by the Dublin-based Airbnb Ireland UC, which show operating profits last year increased by 24% to $118.75m.