US EditionEU Slams Spain for Taxing Non-Residents on Theoretical Property Earnings
7 Articles
7 Articles
EU slams Spain for taxing non-residents on theoretical property earnings
The European Commission has opened a formal case against Spain, criticising the way in which the Treasury taxes non-resident property owners, a sign of what may happen with the controversial 100 percent property tax proposed for non-EU buyers.
Commission criticizes tax revenue of up to 2% of the cadastral value on income tax
"Non-resident taxpayers" pay 2% of the cadastral value of their usual homes, while residents do not pay the tax.
According to Brussels, taxation contravenes European standards, as it restricts rights such as the free movement of workers and capital.
The European Commission has opened a file to Spain for taxing the unusual housing of foreigners with an IRPF equivalent to 2% of the cadastral value of the property. The tax measure, which has been in force for many years, is considered by Brussels as a discrimination against foreign citizens and calls for it to be corrected. The government considers that the file has just started and does not plan to take immediate tax measures.Continue reading…
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