Update on the Modelo 179 – information Report on Holiday Lettings The Spanish Tax Authorities have published their answer to a consultation relating to the obligation to present the Modelo 179, which is due to be submitted for the first time in January 2019, clarifying who must present the Report. Property Managers If the Property […]
It has been recently revealed that the declaration of assets abroad violates five fundamental rights of the EU. The reasoned written opinion that the European Commission sent to Spain in February 2017 against the Form 720 has come to light, and in it clearly declares that the regime violates five community rights of freedom. At […]
Did you know that Non European Citizens can obtain a Residency Visa if they purchase a property in Spain? Not only can this be obtained by investing in property but also there is the possibility of investing in public debt or a bank deposit account. Residence Permit Property– A property would have to be purchased […]
On the 24th May, Spain approved the new tax form “modelo 179” for the reporting of holiday rentals, establishing the conditions and presentation process (Orden HFP/544/2018). It creates an obligation to report information for “platforms” like Airbnb, Home Away, Booking.com and any entity that acts as an intermediary like Property Management Companies, who provide accommodation […]
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EU Non Residents are taxed 19% on profit and Non Residents outside the EU (except Norway and Iceland) are taxed 24% on income (no expenses can be deducted). The property management agency (if registered in Spain) is responsible for the payment of their clients income tax so will therefore retain 19% or 24% of the […]
Spanish capital gains tax is complex. It is paid by tax residents of Spain on their worldwide assets and by non-residents on property that they own in Spain.
Capital Gains Tax Rates on sale or transfer of assets (except property).