Tax Example: Rent
November 20, 2017
| 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 | US$18,00 | US$72,000 | US$144,000 |
| Income Tax 4 | |||
| Flat rate of 30% | 5,400 | 21,600 | 43,200 |
| Annual Income Tax Due | US$5,400 | US$21,600 | US$43,200 |
| Tax Due as % of Gross Income | 30% | 30% | 30% |
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DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on May 23, 2016.
Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 3.40 PEN
3 Rental income earned by nonresident individuals is taxed at a flat rate of 30%.
Comments
Sandra Velarde | May 25, 2010
Taxes on rental property is 5% and it should be declared monthly.
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