Non-resident couple's joint monthly rental income1		US$1,500	US$6,000	US$12,000
Annual Rental Income		18,000	72,000	144,000
Less Cost2 (25%)		4,500)	(18,000)	(36,000)
= Taxable Income		13,500	54,000	108,000
Income Tax Rates3
Flat Rate	12.5%	1,688	6,750	13,500
Annual Income Tax Due		US$1,688	US$6,750	US$13,500
Tax Due as % of Gross Income		9.375%	9.375%	9.375%
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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 October 03, 2006.

Notes

1 The residential property is jointly owned by husband and wife.

2 Costs include VAT (12.5%), municipality rates (8%), insurance (3%), repairs and maintenance (5%) and realtors letting fees (7%).

3 Rent tax is levied at a flat rate of 12.5%.