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Practical manual for Income Tax 2022.

Determination of the amount of attributable income

In general

The determination of the attributable income corresponding to each of the urban properties generating said income in the terms discussed in the previous section is carried out by applying the following percentages:

• 2%, generally . This percentage must be applied to the cadastral value of the property that appears on the Property Tax (Urban) receipt for the year 2022.

• 1.1% in the following cases :

  1. Properties whose cadastral values have been revised, modified or determined through a general collective valuation procedure, in accordance with cadastral regulations and have come into force in the tax period or within the period of the ten previous tax periods.

  2. Properties that, on the date the tax is due (normally, December 31), have no cadastral value or this has not been notified to the owner.

    The percentage of 1.1% will be applied to 50% of the highest of the following values:

    • The price, consideration or acquisition value of the property.

    • The value of the property verified by the Administration for the purposes of other taxes.

Note: No deduction of any type of expense will be made on the amount resulting from the application of the percentage that applies in each case.

Properties acquired, transferred or intended for different uses in 2022

In the case of properties acquired or transferred in the year 2022 or that have been leased, subleased or used for an economic activity for part of the year, as well as in other cases in which the property has been at the disposal of its owners or usufructuaries only for part of the year, the income attributable to this concept will be that which proportionally corresponds to the number of days included in said period.

Special case: real rights of use by turn over real estate

The right of timeshare use, which may be constituted as a limited real right or as a seasonal lease contract, will give rise to the imputation of real estate income only in the cases of real estate timeshare rights over real estate.

In these cases, the imputation must be made by the owner of the real right by applying the percentage of 2% or 1.1%, as appropriate, to the result of prorating the cadastral value of the Real Estate Tax (IBI) based on the annual duration (days, weeks or months) of the period of use.

If on the date of accrual of personal income tax the properties do not have a cadastral value or this has not been notified to the owner, the acquisition price of the right of use will be taken as the basis for imputation.

The imputation of real estate income to the holders of these rights will not apply when their duration does not exceed 2 weeks per year.