What is non-resident tax Spain?

The income tax for non-residents is intended to record and tax those benefits that have been obtained in Spanish territory, both by individuals and entities not resident in Spain. In this article we will share with you i some nformation about the non-resident tax Spain that will be very useful for you.

What you should know about non-resident tax Spain

As a general rule, non-residents in Spain without professional activity pay this tax for their properties in the country. Therefore, it is highly advisable to understand that, for tax purposes, any person is considered as an individual taxpayer.

Based on this, if one of the properties is owned by one or more persons, each of the individual owners must submit a single statement regarding the percentage of the property that belongs to them.

To be able to calculate the income tax, the rateable value is used as the basis for the calculation. The tax base is obtained by multiplying the rateable value by a percentage: 2% if the rateable value has not been updated in the last 10 years or 1.1% if it has been updated in the last 10 years.

In that case in which the value is not known, the purchase price divided by two can be used as a base value for the calculations. This being the case, the applied coefficient would be 1.1%.

When the tax base has been calculated, the accumulated tax will be obtained by multiplying the value by the percentage that will be 19.5% for European Union citizens and 24% for those citizens who are not EU citizens.

In any case, it is very important to have a team of specialized professionals who will be able to advise all non-residents correctly in all aspects that have to do with the non-resident tax Spain.

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