What are the main features of the special tax on real estate owned by non-resident entities?
Only entities resident in a country or territory classified as a tax haven that own or hold real estate in Spain are subject to a special levy under Non-Resident Income Tax. The levy accrues on 31 December each year and must be paid in the following January.
The taxable base is the cadastral value of the real estate, and the tax rate is 3%.
The special levy is not payable by:
- States, foreign public institutions and international organisations.
- Entities carrying on economic activities other than the mere holding or letting of real estate.
- Companies listed on officially recognised secondary securities markets.
