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What tax do I have to pay if I have a property in Spain and I do not r...

Picture ¿Qué impuesto debo pagar si tengo una propiedad en España y no resido en el país?

Have you invested or do you want to invest in a property in Spain but do not have your residence there? Surely you are wondering what taxes you have to pay as the owner of one or more properties in this country.

You will have to declare: Non-Resident Income Tax (IRNR), Real Estate Tax (IBI) and Wealth Tax (IP), only in some cases.

Non-Resident Income Tax:

It must be paid by the owner of the property located in Spain who lives abroad. It is declared a posteriori, that is to say, in 2020 we will present the tax of the year 2019. There are several ways to file this return:

1- If the property is not rented, an annual declaration is made. What is paid? A proportional part of the Cadastral Value that appears in the IBI. The amount can vary if you are a citizen of the European Union or not.

2- Is the property rented all year round? Then, you must make a quarterly statement showing the income obtained in each quarter less deductible expenses (insurance, community, fees, repairs, among others).

3- Do you only rent it seasonally or eventually? In this case you must present two taxes: the first for the time you have rented it, and another for the rest of the year.

If you have not filed this return in previous years, you may file it voluntarily. In this case, the Tax Agency would only charge interest from the last day of the year it was to be filed until the day it is filed.

If you do not do so, the Tax Agency may request you to declare, then, in addition to the above, you will be claimed between 25% - 50% of the amount to be declared.

Real Estate Tax (IBI)

This is a tribute to the Town Hall where the property is located. It is calculated on the cadastral value of the property.

Wealth Tax (IP)

Maybe this tax isn't familiar to you. It is a tax obligation applicable to taxpayers for real obligation, including non-residents in Spain, who will only declare the assets they own that are in Spanish territory.

Although it is a tax that applies to the entire national territory, it is controlled by the Autonomous Communities, who establish the minimum exempt to declare.

In most of the communities only those persons with a net worth of more than 700 thousand euros will have to declare. Although some Autonomous Communities, handle other figures. For example, in the Valencian Community if the net worth exceeds 600 thousand euros, the owner must declare the Wealth Tax.

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