Post by account_disabled on Jan 23, 2024 23:19:50 GMT -7
The tax on income derived from the letting of a real estate (withholding tax) is often a subject that landlords have little knowledge of. In today's world, where the economy develops at a fast pace and where the ownership of real estate is one of the main objectives for many individuals, the discussion about the tax on the income from the rental of such property has started to gain importance. special. With any start of a tenancy relationship, the issue of taxation often becomes a topic of considerable discussion and reflection for the parties involved.
How does this tax affect the economy of a country and the habits Job Function Email Database of individuals? How can the form of taxation affect the motivation for further investment and increase the availability of real estate? This article aims to shed light on these questions and provide information to those interested, as we have long tried to inform through the Dev Inf Real Estate Company Blog. What do we need to know? A withholding tax of 15% is applied on the gross amount of payment for income from real estate leasing. As a rule, the lessee deducts the amount of tax from the monthly rent value and passes it directly to the competent tax authorities. Withholding tax must be paid no later than the 20th day of the month following the month of payment.
The payer of the amounts is obliged to keep records for the calculation and withholding of tax for each recipient of income and to make them available to the tax authorities and the person receiving the income for whom the payment was made. Also, you should know that the withholding tax is a payment obligation for the owner when the property he rents is owned by an individual/family and for the other party in case it is rented by a company/organization. Instructions: The parties to a rental contract must consider clearly and in favor of your interests: · The term when the payment of the rental price will be made · The methods of payment of the rental price, the currency used and the cases when the currency used is devalued as a result of the change in financial market conditions · Access to easily use the facilities of the building where the rented space is located · Determining the increase in the rent percentage in case of renewal of the contractual term. · Clear determination of the cases of termination of the Lease contract and the competent judicial authority for the resolution of disputes between the contracting parties · Reimbursement (or not) of investments made in the environment.
How does this tax affect the economy of a country and the habits Job Function Email Database of individuals? How can the form of taxation affect the motivation for further investment and increase the availability of real estate? This article aims to shed light on these questions and provide information to those interested, as we have long tried to inform through the Dev Inf Real Estate Company Blog. What do we need to know? A withholding tax of 15% is applied on the gross amount of payment for income from real estate leasing. As a rule, the lessee deducts the amount of tax from the monthly rent value and passes it directly to the competent tax authorities. Withholding tax must be paid no later than the 20th day of the month following the month of payment.
The payer of the amounts is obliged to keep records for the calculation and withholding of tax for each recipient of income and to make them available to the tax authorities and the person receiving the income for whom the payment was made. Also, you should know that the withholding tax is a payment obligation for the owner when the property he rents is owned by an individual/family and for the other party in case it is rented by a company/organization. Instructions: The parties to a rental contract must consider clearly and in favor of your interests: · The term when the payment of the rental price will be made · The methods of payment of the rental price, the currency used and the cases when the currency used is devalued as a result of the change in financial market conditions · Access to easily use the facilities of the building where the rented space is located · Determining the increase in the rent percentage in case of renewal of the contractual term. · Clear determination of the cases of termination of the Lease contract and the competent judicial authority for the resolution of disputes between the contracting parties · Reimbursement (or not) of investments made in the environment.