Non-resident couple's joint monthly rental income1	€1,500	€6,000	€12,000
Annual Rental Income	18,000	72,000	144,000
Less: Costs	(9,000)2	(10,260)3	(16,020)3
Less: Depreciation4		(32,400)	(64,800)
= Taxable Income	9,000	29,340	63,180
Income Tax Rates
Tax Rate of 20% 4	1,800	5,868	12,636
Annual Income Tax Due	€1,800	€5,868	€12,636
Tax Due as % of Gross Income	10.00%	8.15%	8.78%
Thanks to:

Notes

¹ The property is jointly owned by husband and wife. The property is assumed to be unfurnished for tax purposes (furnished properties are subject to a different taxation scheme).

² The micro-BIC assessment can be utilized if the rental income does not exceed €32,000. This also allows offsetting 50% of the gross income as expenses and depreciation. This assessment is applied in the first case.

³ In this case, the micro-BIC assessment does not apply because the rental income exceeds €32,000. Therefore, the costs are estimated values.

⁴ Depreciation expenses are deductible when calculating taxable income. Estimated values.

⁵ The minimum income tax rate for non-residents is 20%.