|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|
|= Taxable Income||18,000||72,000||144,000|
|Income Tax Rates2|
|Flat withholding tax rate of 10.50%||1,890||7,560||15,120|
|Annual Income Tax Due||US$1,890||US$7,560||US$15,120|
|Tax Due as % of Gross Income||10.50%||10.50%||10.50%|
Global Property Guide research
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 28.80 UYU
3 Although income from leasing property is taxed at a flat 12% rate, rental income is subject to a flat withholding tax rate of 10.50% levied on the gross rent. In cases where the rental income is the sole income of the individuals, advance tax payments can be considered as the definitive tax payments.
Be the first to comment on this article!
Login or Register to submit a comment!
In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.
Fortnightly updates from the global property arena directly to your inbox.
Connect to professional advice in Uruguay