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Whenever a non-resident in Spain owns a property located in the country, they have to pay taxes, whether you have it at your disposal or if you have it rented.

In this post, we make a brief summary of the taxes and tax obligations if you are in such situation.

Property Tax: Every year, the city council where your property is located will issue this charge to you. It is calculated by applying a coefficient (fixed by the City Council) on the cadastral value assigned to the property.

Wealth Tax: If your assets and rights located in Spain exceed 700,000 euros, you will be a taxpayer of this tax that accrues every December 31. This tax is declared through Form 714.

Income Tax for Non-Residents: You can be a taxpayer of this tax for various concepts:

– if you have the property for private use, imputed income must be declared.

The return to be declared shall be the amount resulting from applying 2% of the cadastral value of the property (1.1% if updated), with the 19% levy rate applied to the result for residents of the European Union, Iceland and Norway and 24% for the rest of the non-resident taxpayers.

Time to file your tax is for the entire calendar year following the date of accrual, through Form 210.

– If you have it rented, the full amount charged to the tenant must be declared, without deducting any expense. As an exception to this, residents of any State of the European Union, Iceland and Norway can do it with the same limitations that exist in the Personal Income Tax Law.

This earning will be taxed at a rate of 19% for residents of the European Union, Iceland and Norway and 24% for the rest of the taxpayers from other states.

You must submit the income in the Form 210, although in this case the presentation and payment period will be the first twenty calendar days of April, July, October and January.

To satisfy with these tax obligations and to be able to submit the forms and to communicate with the Tax Administration, you must obtain a Tax ID Number (NIF), and if you are a resident of countries or territories with which there is no effective exchange of tax information with Spain, a representative must be appointed here.

Amparo Costa Diego, Lawyer & Economist at Legal Notes


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