Global Property Guide

Financial Information for the Residential Property Buyer


Tax Example: Rent

Last Updated: 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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