Do you own a holiday home in Spain but don’t rent it out? You may still owe tax to the Spanish tax authorities every year. This little-known obligation is called the imputed rental income tax (renta imputada in Spanish), and it catches many Nordic and international property owners off guard.
What Is Imputed Rental Income?
Imputed rental income is a notional, deemed income that the Spanish tax authorities attribute to non-resident owners of property in Spain – regardless of whether the property is rented out or not. The reasoning is that by owning a property you enjoy an economic benefit, and that benefit is taxable.
It doesn’t matter whether you live in Sweden, Norway, Denmark or any other country. If you own a property in Spain that is not your permanent residence, you are required to declare and pay this tax each year under the IRNR system (Non-Resident Income Tax).
How Is the Tax Calculated?
The calculation is based on the property’s catastral value – an official value set by the local authority, which appears on your annual IBI (council tax) bill. The applicable percentage is:
- 2% of the catastral value, if that value has not been revised in the last 10 years
- 1.1% of the catastral value, if it has been revised within the last 10 years
This deemed income is then taxed at 19% for EU/EEA citizens (including Swedish, Norwegian and Danish nationals) or 24% for citizens of countries outside the EU/EEA.
Example – catastral value of €80,000
Assume your property has a catastral value of €80,000 and it was revised within the last 10 years:
- Imputed income: €80,000 × 1.1% = €880
- Tax (19% for EU citizens): €880 × 19% = €167.20 per year
It’s not a huge amount in itself – but failure to declare leads to late interest and penalties that compound year after year and can become very significant.
Which Form and When?
The tax is declared using Modelo 210, the specific return for non-resident tax obligations. For imputed rental income, the filing window is open throughout the entire calendar year following the income year. This means, for example, that the tax for 2025 can be declared and paid at any point during 2026.
Note that this is entirely separate from the quarterly declaration required if you actually rent out your property.
What Happens If You Don’t Declare?
The Spanish Tax Agency (Agencia Tributaria) cross-references data from the property registry and the catastro with filed declarations. The consequences of non-compliance can include:
- Tax assessments with late-payment interest on the unpaid amount
- Penalties of 50–150% of the unpaid tax in more serious cases
- Complications and additional checks at the point of any future sale
Calculate Your Tax for Free
Use our free online calculator to get an instant estimate of what you owe:
👉 Imputed Rental Income Tax Calculator
Contact Us
At Colás Abogados we assist hundreds of non-resident property owners every year with their Spanish tax obligations. We prepare and file your Modelo 210, ensure it is correct and submitted on time, and can represent you before the Agencia Tributaria if required.