Tax Example: Rent
April 14, 2016
|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|
|Annual Income Tax Due||1,800||7,200||14,400|
|Tax Due as % of Gross Income||10.00%||10.00%||10.00%|
Global Property Guide research
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 EUR = 22.00 MDL
3 Rental income earned by nonresident individuals is taxed at a flat rate of 10%, withheld at source.