Tax Example: Rent

Taxation Researcher | July 06, 2018

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%
Source:
Global Property Guide research

Notes


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.

  

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.