Each time we approach the end of the year, it is again time to reflect on this tax obligation and tax to be paid in Spain.
Any ownership (even if one does not rent) of a property generates a form of income for the tax authorities.
If the property is rented out, this declaration must be made quarterly. (Certain expenses can be deducted to arrive at net rental income).
What if one does not rent? Even then it is mandatory to file this return before the end of the year. (once a year)
To whom does this declaration apply? For any non-fiscal resident (this can be a physical person or a legal entity) in possession of real estate. (Whether one rents or not does not matter).
A non-tax resident means that one files one's annual tax return in a country other than where the property is located.
It is important to note that one does NOT receive a NOTICE for this payment.
The Spanish tax authorities assume that you are aware of the legislation in force and that you take the necessary initiatives yourself.
If one is a Spanish tax resident (when one stays more than 183 days in Spain and the core of economic activities take place in Spain) one does not need to fill out the MODELO 210, as you will do your entire tax declaration in Spain.
The tax rate for a non-resident and resident of a country in the European Union is 19%.
We always recommend contacting a specialist in this field and filing this tax return correctly.
© MIS FINANZAS PERSONALES