Taxpayers can declare rental income and pay 15% on the total gross rental income. This tax is final, therefore rental income (with the exception of companies) need not be declared in the annual income tax return because it is not subject to further tax.
The benefit of not having your rental income added to your chargeable income and thus being potentially taxed at a rate higher than 15%.
The 15% tax on rental income applies both to residential and commercial property. This beneficial rate applies both to resident and non-resident persons.
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