Non Resident Tax Returns

Glad that's sorted for you!

some people don't declare rental and pay less, but that's up to you!

I am tempted to do that as if that amount is right, I don't have the money! Does anyone know how much it might be more or less for 525 euros per month??

Would I still have to do the form if I decide not to declare?

Thank you

If you don't declare, you still have to complete & submit form 210

I am not advising you not to declare, that is entirely up to you.

Have a look at my website for further info.

Hi Gusi, as a non resident property owner in Spain you are required to complete a modelo 210 and pay tax.  If you do not declare a rental income, the amount payable is 24% of  either 1.1% or 2% (dependent on where you live) of the Valor Catastral on the property.  If you declare income it is 24% of income, and I would say you have got your figures right. 

Oh my god! looks like I'm just going to have to move back :)

Can't believe they tax you that much and don't take into account that your mortgage is higher than what you get from tennants!

Thanks to both of you

Bad news I'm afraid!!

I have recently received the receipt for the Direct Debit for my 2009 I.B.I.

In this receipt is the Valor Catastral value, on which your income tax is based.

My Valor catastral value for the 2009 Income Tax has increased by 130%

The Wealth Tax may be dead but it looks as if it has been resurrected in a different form.

Has anyone else been hit by this increase?

Pengwynne.

I just had a look at my valor catastral and it doesn;t seem too bad. If I have understood well enough and I am to take2% of that value, and then 24% of that, I would have to pay around 217 euros.

Does anyone else pay the deemed income amount rather than declaring the actual income amount? I know technically it is not above board but I always seem to go by the book and get stung, then people say to me that they don't bother! For example when we bought the flat we changed all the bills into our name as our lawyer said there was no other way. it cost us around 500euros. Speaking to everyone since they say they have the bills in the previous owners name and just changed the bank account.

I find everything everything in Spain so difficult and such conflicting advice and there is so much which is not above board that it makes me wonder 'if you can't beat them join them'. If I do declare it all properly I somehow have to find 1500euros and not just once but every year!