Airbnb announced that it has collected and remitted nearly $43 million in provincial sales tax (PST) and municipal and regional district tax (MRDT) over the first year of its tax agreement with the BC government.

Around $33.7 million of that amount is attributed to the PST, and the remaining $9.2 million was collected as part of the MRDT, which is passed on to communities across the province in an effort to help support the promotion of local tourism. Of that amount, $3.5 million was allocated for Tourism Vancouver.

“Airbnb is proud to be providing significant contributions to affordable housing and tourism promotion initiatives in British Columbia,” said Alexandra Dagg, Airbnb Canada’s director of public policy. “We commend the provincial government for their smart and progressive approach on this issue.”

The tax agreement was established in February of 2018 and means that Airbnb collects the 8% provincial sales tax (PST) and the up-to-3% municipal and regional district tax (MRDT) on short-term accommodations provided in British Columbia through its platform.

And while Airbnb collects the 3.5% tax on lodging in Québec, the tax agreement with BC to collect and remit the PST is the first of its kind in Canada.

With these results, Dagg said Airbnb is also encouraging “other platforms to come to the table and contribute to the positive economic impact of home sharing in BC as well.”

This week, Vancouver City council approved a motion to have Mayor Kennedy Stewart write a letter to BC government, advocating for “an equitable framework to share the Provincial Sales Tax (PST) revenue generated from short-term rentals in Vancouver with the City for the purpose of funding affordable housing.”

The letter also requests that the province “identify approaches to hold all short-term rental platforms accountable for ensuring their listings and operators comply with applicable local and provincial regulations.”