Tax Example: Rent
March 13, 2017
1 The property is jointly owned by husband and wife, but then taxed separately (50% upon each partner).
2 Exchange rate used: 1.00 EUR = 1.00 EUR
3 A standard deduction of 10% of gross income is allotted for income-generating expenses. Instead of using the standard deduction option, taxpayers can opt to itemize their income-generating expenses but supporting documents must be presented.
4 Nonresident foreigners' rental income is taxed at a flat rate of 25%.