All non-resident residential property owners in Spain as of December 31st 2014 will need to make a tax return during 2015 in respect of their Spanish property. The tax rate is 24% and is applied to 1,1% of the ‘catastral’ value of the property.
The ‘catastral’ value of the property is not the same as the real value and is much lower. It is value that is calculated in order to provide a ‘tax base’ upon which tax rates are applied. The tax base increases to 2% of the catastral value if the last time the ‘catastral’ value was calculated predates 1994.
If you would like to speak to a lawyer about the matters discussed in this article, please use the 'Contact Us' button below.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.