“Have you reported all the income you have received in the past few months? If not, you can do it as soon as possible, but no later than January 21, 2018,” the Financial Administration of Slovenia (FURS) has written in a press release.

In the beginning of 2018, FURS will increase its oversight of individuals, individuals with registered business activities, and corporations that have made an income from renting their properties to tourists, including those who have used websites such as Booking, Airbnb, and the like.

Information about income from these sources has already been received by FURS, says the agency. Those who have not yet reported them can avoid a fine by self-reporting the income. Potential fines can range from 400 to 30,000 euros.

The tax authorities will impose an income tax on the reported amounts, as well as three percent interest from unpaid taxes. The latter also applies to taxes from income earned by corporations.

Individuals can only rent out and advertise property for tourist use (via sites such as Airbnb and Booking) if they have appropriately registered the business. Individuals who have not registered are engaged in illegal business activity. FURS has also prepared a brochure that explains how to register, including the possibility of registering retroactively.

Individuals who wish to rent out real estate, either short-term or long-term, can do that two ways, according to the Financial Administration: They can register as accommodation providers or as private entrepreneurs.