Owning a slice of paradise in Spain is a dream for many, but the intricacies of the Spanish tax system can be a challenging landscape to navigate, especially for foreign property owners. In this comprehensive guide, we shed light on the various taxes you may encounter, helping you stay informed and ensuring a smooth journey in your Spanish property ownership.

Understanding the Spanish Tax Terrain

1. Impuesto sobre Bienes Inmuebles (IBI) - Property Tax

What is IBI?

IBI is an annual property tax that applies to all property owners in Spain. The amount is calculated based on the property's cadastral value.

How Pass the Keys Can Help

Our property inspection services can extend to monitoring tax deadlines, ensuring you stay on top of your IBI payments, just mention your requirements during your free consultation.

2. Impuesto sobre la Renta de No Residentes (IRNR) - Non-Resident Income Tax

Non-Resident Taxation

Foreign property owners are subject to non-resident income tax, payable on any rental income generated from their Spanish property.

How Pass the Keys Can Help

Our financial tracking tools aid in organizing income-related documents, facilitating the tax-filing process and keeping all of your holiday rental invoices in one place. Pass The Keys also has trusted partners that they can recommend for your tax declaration services. When you sign up to our inspection or holiday management services you receive access to our supplier network.

3. Impuesto sobre Transmisiones Patrimoniales (ITP) - Property Transfer Tax

Buying or Selling Property

When buying or selling a property in Spain, ITP is applied to the transfer of ownership.

How Pass the Keys Can Help

Our documentation management tools assist in keeping records organized during property transactions.

4. Impuesto sobre el Patrimonio - Wealth Tax

Annual Wealth Taxation

For individuals with high net worth, Spain imposes an annual wealth tax.

Navigating Taxes with Pass the Keys

Tax Compliance Made Seamless

Navigating the Spanish tax landscape is undoubtedly complex, but with Pass the Keys by your side, you gain a strategic ally in managing your property-related taxes. From overseeing property tax payments to organizing essential financial documents, our comprehensive suite of services aims to simplify the tax journey for foreign property owners in Spain. Stay informed, stay compliant, and enjoy the fruits of your Spanish property investment with confidence.