Global Property Guide

Financial Information for Residential Property Buyers


Tax Example: Rent

Last Updated: July 24, 2018

Non-resident couple´s rental income1
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
Less Expenses3 30% 5,400 21,600 43,200
= Taxable Income 12,600 50,400 100,800
Income Tax4
flat rate 27% 3,402 13,608 27,216
Annual Income Tax Due 3,402 13,608 27,216
Tax due as % of Gross Income 18.90% 18.90% 18.90%
Source:
Global Property Guide research

Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 USD = 47.00 DOP

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 27%.

 

Comments

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.