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Honduras: Worked Example of Tax on Rent

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Last Updated: Mar 12, 2007

Tax Example: Rent

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 Costs2 (8,000) (20,000) (30,000)
Less Depreciation (capital allowance)3 (2,000) (30,000) (40,000)
= Taxable Income 8,000 22,000 74,000
Income Tax Rates4
Flat Rate 10% 800 2,200 7,400
Annual Income Tax Due US$800 US$2,200 US$7,400
Tax Due as % of Gross Income 4.44% 3.06% 5.14%
Thanks to:
Grant Thornton Herrera Guzman & Asociados

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 March 12, 2007.

Notes

Grant Thornton Herrera Guzman & Asociados is a member firm of Grant Thornton International. Grant Thornton International is not a worldwide partnership. Member firms of the international organization are independently owned and operated.

1 The property is jointly owned by husband and wife.

2 The property is jointly owned by husband and wife.

3 The property is jointly owned by husband and wife.

4 Rental income, considered to be a capital gain, is taxed at a flat 10% rate.

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