Income tax on rent, worked example, in Bulgaria
|Non-resident couple´s joint monthly rental income1||€1,500||€6,000||€12,000|
|Annual Rental Income||18,000||72,000||144,000|
|= Taxable Income||18,000||72,000||144,000|
|Income Tax Rates2|
|Flat Rate 10%||1,800||7,200||14,400|
|Annual Income Tax Due||€1,800||€7,200||€14,400|
|Tax Due as % of Gross Income||10%||10%||10%|
Global Property Guide research
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 EUR = 1.96 BGN
3 Nonresident foreigners´ rental income is subject to 10% withholding tax.