Non-resident couple's joint monthly rental income1		€1,500	€6,000	€12,000
Annual Rental Income		18,000	72,000	144,000
= Taxable Income2		18,000	72,000	144,000
Income Tax Rates
Up to €4,000	8.5%	340	340	340
Over €4,000	20%	2,800	13,600	28,000
Annual Income Tax Due		€3,140	€13,940	€28,340
Tax Due as % of Gross Income		17.44%	19.36%	19.68%
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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 October 2, 2006.

Notes

¹ The property is jointly owned by husband and wife

² In utilizing such flat rates of taxation, no reliefs are available and no expenses are deductible against such rental income. No significant reliefs or deductions would be available if the election to pay the flat rates was not made and the progressive rates were chosen instead.