NO IMPUTED INCOME TAX ON PRINCIPAL RESIDENCE

August 08, 2009 - Posted By (Admin) in (Green energy)

Residents are no longer subject to the property owners` imputed income tax on their principal dewlling. For this tax, 2 per cent of the official rated value of your property, the valor catastral, is calculated as if it were income and added to your total. If your rated value has recently been raised sharply, the figure will be 1.1 per cent.
This tax on imaginary income for the taxpayer`s principal residence ended in 1999. If, however, you own two homes in Spain, you will have to pay the tax on the second residence.
 
Non-residents remain subject to the tax as, by definition, Spain is not their principal residence. They ...

Read More