Rental income tax

Rental income tax

 

Question:
Hello!

I have a room that I started renting out. Since I'm not familiar, I wonder if I have to pay any income taxes?

Thanks!

income, rent, tax, CPD, accounting services, Varna, Ruse, Plovdiv, Burgas, Sofia

 

Answer:

Hello,

You owe 10% income tax, and 10% of legally recognized expenses are recognized on the rent itself. If you receive the rental income from a company, then when they pay you the rent they are obliged to withhold the tax due by you and to pay it on your behalf. If your rent is paid by an individual, you pay your tax. You are also required to file an annual tax return stating the income received, the tax due and whether or not it has already been withheld.

We hope we have been helpful to you.

Greetings!




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