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Non Resident Landlord Long Term Rentals - Fiscal News

European Commission Press Release March 7th 2019.

The Commission requests that SPAIN eliminate discrimination on taxation of non-resident individuals’ rental income

The Commission decided today to send a letter of formal notice to Spain asking it to eliminate a discriminatory tax treatment for non-residents on income derived from the letting of dwellings. For income tax purposes, resident individuals enjoy a reduction of 60% of the net income obtained from the letting of property used by the tenant as dwelling. However, this reduction is not available for non-resident individuals. Thus, investors from other EU or EEA states are subject to a different treatment that unduly restricts the free movement of capital (Article 63 of TFEU). If Spain does not act within the next two months, the Commission may send a reasoned opinion to the Spanish authorities.

Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.

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