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THE MOST COMMON INCOME TYPES OBTAINED IN SPAIN BY NON-RESIDENT TAXPAYERS IS THE INCOME OBTAINED FROM URBAN REAL ESTATE ASSETS
According to Spanish law, natural persons that are non-residents who own urban buildings in Spanish territory, used for their own use rather than for economic activity, or vacant, are subject to non-resident income tax for the income obtained from these buildings. The taxable base corresponding to the income obtained from urban property assets in Spanish territory will be determined according to Personal Income Tax regulations. For these purposes, income must be calculated as 1.1% of the rateable value of the building (2% if the rateable value has not been revised or changed since 1 January 1994). The Taxable base will be calculated without deducting expenses of any kind. The tax rate is 24% (24.75% from 1 January 2012 until 1 December 2014, inclusive).