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Apr 11, 2017

Tax Example: Rent


Non-resident couple´s joint monthly rental income1 €1,500 €6,000 €12,000
Annual Rental Income 18,000 72,000 144,000
Less: Expenses2 (5,400) (21,600) (43,200)
= Taxable Income €12,600 €50,400 €100,800
Income Tax Rates3
Flat Rate 12% 1,512 6,048 12,096
Annual Income Tax Due 1,512 6,048 12,096
Tax Due as % of Gross Income 8.40% 8.40% 8.40%
Thanks to:
TPA Horwath

Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 EUR = 7.70 HRK

3 A standard deduction of 30% of the gross income is allowed to account for income-generating expenses.

4 Rental income earned by nonresident individuals is taxed at a flat rate of 12%.






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