We’ll send a form to collect your income and expense information every quarter and make a quarterly declaration on your behalf. We’ll also use this data to submit annual information, confirming the amount earnt and determining whether or not you need to start applying IGIC in the following year.
You’ll also make an annual payment for the Spanish Property Tax, which is a separate tax payable by all foreign homeowners, regardless of whether they rent or not.
This is not affected by your earnings, but is based on the cadastral value of your property and the number of days not rented (when you occupy the property yourself or it’s used by non-paying guests, we include those days as not rented). We work that out for you and file the return on your behalf.