Global Property Guide in their latest report has made a rating of European countries in terms of tax on rental income.
In the first place is Switzerland with a score of 48,55%. Among three leaders are also Norway (27.67%) and Portugal (26.44%). Greece, due to the rate increase to 21%, is in 8th place. For those who own Greek real estate worth more than €200 000, the amount of tax on rental income and ENFIA tax can reach 7-8 months rent fee.
In Cyprus the rental income is not taxed separately. Profit from the rental business is recorded in the general list of the taxpayer's income, and it is reduced by 20%20%.
In contrast, the tax on income from the rent is completely absent in the UK, Luxembourg and Monaco.
Based on the materials of greece.greekreporter.com
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