ITS - International Tax Structures

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Emilio Alvarez Arjona
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Good news for non residents home owners in Spain
A very recent change allows the deduction of expenses to determine the taxable base of Non Residents Income Tax. So far the taxable base was the gross income received by the Non Resident. Now, but only EU citizens, can deduct all the expenses connected with the revenue. The tax rate remains 24 %. The change in the Law is to avoid further infringement procedures against Spain by the European Commission.
For the same reasons, dividends from Spanish source received by EU pension and mutual funds have also been declared exempt in Spain.
- 03 Mar 2010, 12:21 pm
Emilio Alvarez Arjona wrote: > A very recent change allows the deduction of expenses to determine > the taxable base of Non Residents Income Tax. So far the taxable base > was the gross income received by the Non Resident. Now, but only EU > citizens, can deduct all the expenses connected with the revenue. The > tax rate remains 24 %. The change in the Law is to avoid further > infringement procedures against Spain by the European Commission. > For the same reasons, dividends from Spanish source received by EU > pension and mutual funds have also been declared exempt in Spain.