“Non Letting Tax” Modelo 210

If your Spanish property is for for personal use and NOT let out at all it is still liable for Renta Imputada – Deemed Income tax declarable on a form called Modelo 210. If your property is left empty, even though you do not let out your holiday home for gain, Spanish law assumes you have what is called a “Deemed (Rental) Income” which is subject to non-resident Income Tax. The “Deemed (Rental) Income”, which …

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Tax Rates for 2017

Income Tax From (Euros) To (Euros) State tax % Regional tax % Total tax % 0 12,450 9.50 9.50 19.00 12,450 20,200 12.00 12.00 24.00 20,200 35.200 15.00 15.00 30.00 35,200 60,000 18.50 18.50 37.00 60,000 + – 22.50 22.50 45.00 Capital Gains Tax Rates Residents First 6,000 Euros: 19% 6,000 – 50,000 Euros: 21% 50,000 + Euros: 23% Non-residents 19% Allowable Depreciation Straight line method can be used for any depreciable asset. Reducing balance method …

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Reclaiming 3% Retention Held back from Property Sale

If you are a fiscal resident in Spain and can produce a certificate of fiscal residence from the Spanish tax authorities the gain you make on the sale of a property will be taxed and included as part of your anual declaración de la renta. However if you are a NON fiscal resident in Spain an amount of 3% of the sale price of your Spanish property will be witheld and paid to the Spanish …

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Non-Resident Home Owners and Annual Property Taxes

After legislative changes in 2008 many non-resident owners of property in Spain were under the misconception that they can forget about submitting their annual tax forms! It would be nice but it is not the case. Up until the end of 2007 all non-residents with property in Spain were also liable to pay a “wealth tax” (Patrimonio) which was calculated on the value of their assets in Spain (i.e. property, savings, etc.) With the introduction …

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How to Find Your Catastral Information

As some of you may have noticed if you pay your “Impuestos Sobre Bienes Inmuebles” (local authority rates) through your bank they are no longer giving full details on the bank slips. This can be a problem as from 2015 payable 2016 there is a basic change to the rules for calculating the tax as well as a change to the % rate of tax. if you have presented modelo 210 before you probably remember …

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