Income tax on rent, worked example, in Slovak Republic

Taxation Researcher | October 15, 2019

NON-RESIDENT COUPLE FILING SEPARATELY (TAKING STANDARD DEDUCTIONS)
Non-resident couple´s rental income1
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
Less Expenses (25%)3 (4,500) (18,000) (36,000)
Less Personal Allowance4 (4,710) (4,710) (4,710)
= Taxable Income 8,790 49,290 103,290
Income Tax5
Up to € 36,256.38 19% 1,670 6,889 6,889
Over € 36,256.38 25% - 3,258 16,758
Annual Income Tax Due 1,670 10,147 23,647
Tax Due as % of Gross Income 9.28% 14.09% 16.42%
Thanks to:


Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 EUR = 1.00 EUR

3 Estimated values. Income-generating expenses are deductible when calculating taxable income.

4 Rental income earned by nonresident individuals is taxed at a flat rate of 19% for income up to €36,256.38, and a flat rate of 25% for income exceeding €36,256.38.

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