Non-resident couple's joint monthly rental income1		€1,500	€6,000	€12,000
Annual Rental Income		18,000	72,000	144,000
Less Standard Costs2		(3,600)	(14,400)	(28,880)
= Taxable Income		14,400	57,600	115,200
Income Tax Rates3
Flat Rate	20%	2,880	11,520	23,040
Annual Income Tax Due		€2,880	€11,520	€23,040
Tax Due as % of Gross Income		16%	16%	16%
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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 August 24, 2007.

Notes

¹ The property is jointly owned by husband and wife, but then taxed separately (50% upon each partner).

² A standard deduction of 20% from the gross income is given to cover income-generating expenses. However, a taxpayer can opt to deduct actually incurred expenses instead of availing the standard deduction.

³ Non-resident foreigners are taxed at 20%.