Income tax on rent, worked example, in Spain
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| 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 |
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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.
