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 TAX IN SPAIN. NON RESIDENT TAXES. FAQS
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Rental Income Tax |
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| Do I have to submit a form if i rent my property? |
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If you rent your property, you must present quarterly tax form to the Spanish Tax Office. The form is the model 210.
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Do all the owners have to submit the rental tax?
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Each owner is regarded as an independent taxpayer; therefore they each file separate returns.
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Can I declare together incomes for differents tenants?
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No, each owner has to present a different file for each tenant. It can only be declared together when the incomes come from the same tenant.
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When is the rental income due?
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It is due every quarter. The quarters are First quarter January-March from the 1st until the 20th of April. Second quarter April-June from the 1st until the 20th of July. Third quarter July-September from the 1st until the 20th of October. Fourth quarter October- December from the 1st until the 20th of January.
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What happens if I do not have tenants in a quarter?
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If you do not have tenants during a quarter the rental income tax does not have to be presented. The next year you will have to submit the non resident tax form for the days that the property was not rented.
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Which is the tax rate for rental income?
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The percentage of tax that must be paid is 24% of the difference between the income received during each quarter and the expenses.
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What expenses can we deduct from the income?
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The expenses that can be deducted are:
- Council Tax.
- Utilities bills (water, gas, electricity, community fees…) referring to the period rented and paid by the owner.
- Interest paid of the mortgage against the property.
- Maintenance and cleaning bills.
- Management bill for renting the property.
- Insurance of the property.
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If I have more expenses than incomes, can i ask the refund for the difference?
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In case that the expenses are higher than the income, the quarterly tax form has to be presented at 0€. If this happens during each quarter of the year, you have to submit only one form. That form has to be submitted during January of the next year. |
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