[Ratty55]

We purchased a property in Mallorca in March 2016.
I have been reading a lot about Wealth Tax and
am getting confused as to whether we need to pay it.
We are non-resident, the Apartment is for our own use only and the purchase price was €230,000 and we own it
outright. I have asked a local gestor and he doesn’t seem to think we do but then I have read articles and it seems to indicate we do.I have read that non- residents have an
individual allowance of €700,000 but no allowance against property.
Can you clarify for me please.
Regards,
Liz Ratcliffe

[Anonymous1]

I think you don’t need to pay wealth tax. However, you would still need to submit a tax form noting these values (and apartment) wherever you are domiciled for tax.

[Ratty55]

Hi , thank you for your reply.
Do you mean Impuesto sobre la Renta de No Residentes
(IRNR) which you complete on model 210?

[Author]

Posts