As you may know from filing previous Spanish income tax returns , rental income for Non-residents was taxed on the Gross amount without any allowable expense deductions. This was leading many overseas property investors to refrain from renting out the property and thus losing out on an added source of income.
Great news! The new law change means Non-Resident property owners can now write-off expenses incurred in direct relation to the property reducing their tax liability considerably, thus making the option of renting the property far more attractive.
Tax Service.
Property Tax International in partnership with Spain Mortgage will provide a complete tax filing service in Spain. Depending on how often you receive rental income there are 4 quarterly returns due.
If you own a lifestyle property an annual deemed rental tax return is a requirement and is now due. Contact PTI for more information.
Why do I need to file ?
Understanding what your tax liability might be in Spain and how that will effect your tax position in your home country is paramount to ensuring your tax exposure is minimized and you don’t end up with a huge tax bill you had not planned for in the future.
Why Choose Property Tax International (PTI):
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One stop shop for international & domestic income tax returns
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Most competitively priced fees on the market
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Services also available in French, German, Spanish, Polish, Hungarian
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Personal online tracking system offering a complete transparent process