For this year 2014 in general terms the same tax rates are applicable as in 2013 for non residents which means that the tax rate for income tax remains at 24,75 % which will be applicable in case of rental of property or use of your own property and if you decide to sell your property in Spain the capital gains tax to be paid is still 21%.
Also for those you who have to present a non resident Wealth tax declaration (owners with a net asset value exceeding 700.000 Euros ) , which was temporarily set only for the years 2012 and 2013, this obligation has been extended to this year 2014 and , if required the corresponding Tax assessment declaration has to be presented in 2015
There is another item which affects non resident which is that the rateable value (valor catastral) this year will vary in some cases depending on the year when the last revision of the rateable value took place in the municipality. The increase starts at 13 % and goes down to 6 % for those locations where the tax revision took place between 1984 and 2003. What is new is that there are certain places where the ratable value could even go down (85 % to 73 % of the 2013 value) . This is applicable to places where the revision took place between 2006-2008 and there is a big difference between the market value used at the time to establish the rateable value and the present value of the properties. The change of the rateable value will affect you as this is used to work out some of the taxes to be paid annually by the non residents i.e. , income tax for own use of property , local rates, etc.
For more information or an appointment please contact us on (0034) 952 822 321 or admin@nonresidenttaxesinspain.com.
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