Are you a non-resident earning Rental Income in Spain? Here’s What You Need to Know!
If you’re renting out property in Spain but aren’t a resident, it’s crucial to understand how taxes apply to your rental income. Non-residents face some unique rules, and knowing them in advance can save you time, stress, and money.
Non-Resident Income Tax (IRNR):
Non-residents are typically taxed at a flat rate of 24% on their rental income.
Key Difference: No Deductions Allowed!
Unlike residents, non-residents can’t deduct expenses like utilities, insurance, depreciation, or other property-related costs. Yes, that includes maintenance bills!
How to Report Your Rental Income:
Non-residents must declare rental income once a year in January, for the previous year.
Didn’t rent out the property for part of the year? You’ll need to file two declarations—one for the rental period and another for the non-rental period.
Feeling Overwhelmed? We’ve Got You Covered!
At Avenida Invest, we’re here to simplify the tax maze for non-residents. From breaking down the details of Spanish tax laws to helping you file accurately and minimize tax expenses, we take care of everything so you don’t have to.
Let us handle the paperwork while you enjoy the rewards of your investment!
Drop us a message today—we’ll make taxes the least of your worries!
