Income tax on rent, worked example, in Spain

Taxation Researcher | July 13, 2016

Non-resident couple´s rental income1
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
= Taxable Income 18,000 72,000 144,000
Income Tax3
Flat rate 19% 3,420 13,680 27,360
Annual Income Tax Due 3,420 13,680 27,360
Tax Due as % of Gross Income 19.00% 19.00% 19.00%
Source:
Global Property Guide

Notes


1 The property is jointly owned by husband and wife.

2 Nonresident foreigners are subject to a flat rate of 19% on gross rental income in 2016.