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May 09, 2017

Tax Example: Rent


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
= Taxable Income 13,500 54,000 108,000
Income Tax4
Up to € 30,000 30% 4,050 9,000 9,000
Over € 30,000 34% - 8,160 26,520
Annual Income Tax Due 4,050 16,920 34,740
Tax Due as % of Gross Income 22.50% 23.83% 24.67%
Thanks to:
KPMG Oy Ab

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 considered income from capital, and is taxed at progressive rates.

INCOME TAX ON CAPITOL INCOME 2015

TAXABLE INCOME, € TAX RATE
Up to € 30,000 30%
Over € 30,000 34% on all income over € 30,000






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