Income tax on rent, worked example, in Slovak Republic
Taxation Researcher | October 15, 2019
| NON-RESIDENT COUPLE FILING SEPARATELY (TAKING STANDARD DEDUCTIONS) | ||||
| 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 Expenses (25%)3 | (4,500) | (18,000) | (36,000) | |
| Less Personal Allowance4 | (4,710) | (4,710) | (4,710) | |
| = Taxable Income | 8,790 | 49,290 | 103,290 | |
| Income Tax5 | ||||
| Up to € 36,256.38 | 19% | 1,670 | 6,889 | 6,889 |
| Over € 36,256.38 | 25% | - | 3,258 | 16,758 |
| Annual Income Tax Due | 1,670 | 10,147 | 23,647 | |
| Tax Due as % of Gross Income | 9.28% | 14.09% | 16.42% | |
Thanks to: |
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Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 EUR = 1.00 EUR
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 19% for income up to €36,256.38, and a flat rate of 25% for income exceeding €36,256.38.