Income tax on rent, worked example, in Slovak Republic

October 14, 2017

NON-RESIDENT COUPLE FILING SEPARATELY (TAKING STANDARD DEDUCTIONS)
Non-resident couple´s rental income1
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
Less Expenses (25%)3 (4,500) (18,000) (36,000)
Less Personal Allowance4 (4,710) (4,710) (4,710)
= Taxable Income 8,790 49,290 103,290
Income Tax5
Up to € 35,022.31 19% 1,670 6,654 6,654
Over € 35,022.31 25% - 3,567 17,067
Annual Income Tax Due 1,670 10,221 23,721
Tax Due as % of Gross Income 9.28% 14.20% 16.47%
Thanks to:

DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on June 27, 2016.


Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 EUR = 1.00 EUR

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 19% for income up to €35,022.31, and a flat rate of 25% for income exceeding €35,022.31.

  

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