Rent Declaration Deadline: April 2nd
The deadline for submitting rental income declarations is approaching, with real estate owners who earn rent income required to pay income tax on their earnings. Last year, those who earned 33 thousand pounds from a residence or 230 thousand pounds from a workplace are obligated to pay taxes. However, individuals who earn rental income below the exception amount are not required to submit a declaration.
To ensure smooth transactions and avoid any issues, taxpayers must submit their declarations by April 2. The declared taxes can be paid in two installments to ease the financial burden.
The Revenue Administration of the Ministry of Treasury and Finance has provided detailed information about the process through a reminder video shared on social media accounts. It is important for each family member to submit a separate declaration for their rental income from the goods and rights they own.
Property owners can fill out the declaration through the “Ready Declaration System” on the Revenue Administration website or access a ready declaration from the Digital Tax Office. For any inquiries or assistance regarding the process, individuals can contact the Alo 189 Tax Communication Center.
It is crucial for real estate owners earning rental income to adhere to the deadline and fulfill their tax obligations to avoid any penalties or issues with the authorities.
