Income tax on rent, worked example, in Spain
July 13, 2016
|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||18,000||72,000||144,000|
|Annual Income Tax Due||3,420||13,680||27,360|
|Tax Due as % of Gross Income||19.00%||19.00%||19.00%|
Global Property Guide
1 The property is jointly owned by husband and wife.
2 Nonresident foreigners are subject to a flat rate of 19% on gross rental income in 2016.