Spanish Rental Income Tax – Rule Change

We spoke to the lovely Ben Simkins this morning, an Asesoria in Lanzarote – and he asked if we could make non-resident owners of property in Lanzarote aware of recent changes to Spanish Rental Income Tax rules.

In January of this year (2010), the rules changed somewhat. Previously, income tax was payable at 24% of the gross income but no deductions were permitted for expenses. These recent changes allow EU residents to deduct expenses against rental income provided such expenses are directly related to the rental income generated from your property in Spain.

Every little saving helps eh?

Ben is also the owner of Taxes Online, which enables non-resident property woners… and owners of rental properties in Spain to pay their taxes cheaply viw his website. You can visit his site by clicking the following link: Pay Spanish Property Tax Online

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