Income tax on rent, worked example, in Dominican Republic
January 10, 2017
|Non-resident couple´s rental income1|
|Monthly Rental Income2||1,500||6,000||12,000|
|Annual Rental Income||18,000||72,000||144,000|
|= Taxable Income||12,600||50,400||100,800|
|Annual Income Tax Due||3,402||13,608||27,216|
|Tax due as % of Gross Income||18.90%||18.90%||18.90%|
Global Property Guide research
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 USD = 47.00 DOP
3 Estimated values. Income-generating expenses are deductible when calculating taxable income.
4 Rental income earned by nonresident individuals is taxed at a flat rate of 27%.