Income tax on rent, worked example, in Senegal

December 14, 2017

Non-resident couple's income1
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
Less: Expenses3 40% 7,200 28,800 57,600
= Taxable Income 10,800 43,200 86,400
Income Tax4
Flat rate 20% 2,160 8,640 17,280
Annual Income Tax Due 2,160 8,640 17,280
Tax Due as % of Gross Income 12.00% 12.00% 12.00%
Source:
GPG


Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 US$ = 655.96 CFA

3 Estimated values. Income-generating expenses are deductible when calculating taxable income.

4 Rental income earned by nonresident individuals is taxed at a flat rate of 20%.

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