A few good tips for property owners in Spain


During this year, we have been writing articles about the main topics and law changes affecting Spanish property, for residents and non residents in Spain. It is now December and we believe that we should make a review some of those topics.


22/ PROPERTYMAIL


INCOME TAX FOR NON- RESIDENT INDIVIDUALS OWNING PROPERTY IN SPAIN If you have a home in Spain, 31st December is the deadline to pay this tax, which is based on the value of the property for tax purposes, as shown in your IBI (municipal property tax) bill. Te tax depends on the value of the property and where you are fiscal resident. Te taxable base is the result of applying either 2% to the above- mentioned value of the property (or 1,1% to values that have been updated over the last 10 years). Te final tax bill would be the result


of applying either 19% for residents in EU, Norway and Iceland and 24% for residents in other countries. Property value * 1,1% or 2% * 19% or 24% = Income tax for non residents. Please note that this calculation is only for properties that have not been leased. If you have not paid this tax yet, we recommend you to proceed as you still have time. Otherwise the Spanish Inland revenew will ask you for extra charges and interests.


“IF YOU HAVE A HOME IN SPAIN, 31ST DECEMBER IS THE DEADLINE TO PAY THIS TAX”


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