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Airbnb said it will collect and remit taxes in Mexico City, the first such arrangement by the home and apartment rental company in Latin America.

Airbnb will provide 3 percent of revenue generated from its hosts' bookings in Mexico City to the city's government. Hotels there also pay a 3 percent lodging tax to local officials.

Airbnb said it intends to replicate the tax model throughout the region. Airbnb's policy efforts are increasingly global. On Thursday, the company announced additional agreements with local governments in China and India.

Latin America is now Airbnb's fastest-growing market, surpassing Japan. The company has 250,000 properties listed in the region, which encompasses Mexico, South America and parts of the Caribbean, including Cuba. Airbnb said booking s in Latin America have increased 148 percent in the past year. The privately held company declined to disclose revenue.

Print Headline: Airbnb to collect 3% tax in Mexico City

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