Tax on Rental Income / advice please
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We purchased a property this year with a guaranteed rental income from the developer. We now have to submit an invoice for the 1st quarter’s rental.
Can anyone confirm the taxes due on this; I know that we have to pay 25% but do we also have to pay IVA? Any info would be appreciated.
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Caro,
Income Tax is chargeable at 25% on your Net Rental Income after deduction of allowable expenses. There is NO IVA payable on any Income Taxes
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Mike T
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