Income tax on rent, worked example, in Guatemala
October 11, 2018
|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||13,500||54,000||108,000|
|Up to € 12,000||25%||3,375||13,500||27,000|
|Annual Income Tax Due||3,375||13,500||27,000|
|Tax Due as % of Gross Income||18.75%||18.75%||18.75%|
DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on January 29, 2016.
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 7.65 GTQ
3 Estimated values. Income-generating expenses are deductible when calculating taxable income. The deductions must be supported by corresponding legal documentation.
4 Rental income earned by nonresident individuals is taxed at a flat rate of 25%.