I contacted my Fiscal recently as I thought the wealth tax for non residents was cancelled from January 2008. However, he advised me that it has been, but there is still tax to pay on theoretical 'rent' that you recieve from the property - below is what he said
'One of the two taxes included in the Non Residents Wealth tax (214) has been abolished from 1st January 2008, BUT unfortunatelly, the another tax called Tax on "renta" (this is the theoretical income of a property) goes on existing.
Impuesto sobre la Renta de No Residentes" goes on existing. "Impuesto sobrea Patrimonio" is abolished"
.......Does anyone know if this is right? Any insights would be very welcome!