en
The tax rate for those who rent out their homes is being reduced
The tax rate for those who rent out their homes is being reduced
Income obtained from renting out residential properties owned by individuals (excluding accommodation facilities located in hotels and hotel-type establishments) will be taxed at the source at a rate of 10%.
Thus, while the current legislation requires a 14% tax on income earned by individuals from renting out residential property, the new amendments reduce this rate to 10%.
If the rental payment is made by an individual who is not registered as a taxpayer, the landlord—either personally or through an appointed tax agent—will pay the tax at a rate of 10% in accordance with this article, register for tax purposes, and submit a tax return.
Income obtained from renting out residential properties owned by individuals (excluding accommodation facilities located in hotels and hotel-type establishments) will be taxed at the source at a rate of 10%.
Thus, while the current legislation requires a 14% tax on income earned by individuals from renting out residential property, the new amendments reduce this rate to 10%.
If the rental payment is made by an individual who is not registered as a taxpayer, the landlord—either personally or through an appointed tax agent—will pay the tax at a rate of 10% in accordance with this article, register for tax purposes, and submit a tax return.