Tax Example: Rent
Taxation Researcher | March 15, 2016
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1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 1,510.00 LBP
3 Estimated values. Income-generating expenses are deductible when calculating taxable income.
4 Rental income earned by nonresident individuals is taxed at progressive rates.
INCOME TAX 2015 ON PASSIVE INCOME
|TAX BASE, ILS(US$)||TAX RATE|
|Up to 20,000,000 (US$ 13,245 )||4%|
|20,000,000 - 40,000,000 (US$ 26,490 )||6%|
|40,000,000 - 60,000,000 (US$ 39,735 )||8%|
|60,000,000 - 100,000,000 (US$ 66,225 )||11%|
|Over 100,000,000 (US$ 66,225 )||14%|
|Source: Global Property Guide|