Peru: Worked Example of Tax on Rent
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Last Updated: Jul 23, 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: Standard Costs2 | (3,600) | (14,400) | (28,800) | |
| = Taxable Income | US$14,400 | US$57,600 | US$115,200 | |
| Income Tax Rates3 | ||||
| Flat Rate | 30% | 4,320 | 17,280 | 34,560 |
| Annual Income Tax Due | US$4,320 | US$17,280 | US$34,560 | |
| Tax Due as % of Gross Income | 24% | 24% | 24% | |
Thanks to: |
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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 July 23, 2007.
Notes
1 The property is jointly owned by husband and wife.
2 A standard deduction of 20% of the gross rent covers income-generating expenses. The taxable income is effectively 80% of gross rent.
3 Income of non-residents is taxed at a flat rate of 30%.
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