Tax on 2nd residence in Spain.

A second residence or other real estate abroad will be taxed from next year (2022) in the same way as Belgian real estate. For this, the tax authorities must determine the cadastral income of 150,000 Belgian properties abroad.

After several convictions by Europe, the unequal tax treatment of Belgian and foreign real estate is being eliminated. From tax year 2022, the cadastral income (ki) - analogous to Belgian real estate - is used to tax foreign real estate. Until now, the rent (value) has been used. Owners who use or rent their foreign real estate themselves to a private person will be taxed on the basis of the cadastral income. If the property is let to someone who uses it professionally or to a company, the actual rent is still taxed, 'says Bart Lombaerts of PwC Tax Consultants.

The tax authorities are faced with a titanic job. A cadastral income must be determined for the approximately 150,000 buildings of Belgians abroad.

The cadastral income will be determined by the Administration of Measurements and Valuations - formerly the land registry - of the tax authorities. "A cadastral income must be established for all the real estate of Belgian taxpayers worldwide," says Francis Adyns, spokesperson for the federal public service Finance. This will be done on the basis of data that the owners of foreign real estate must provide.

If you already owned property abroad before 1 January 2021, you do not need to do anything for the time being. Only from June the information can be submitted via MyMinfin or via a form that can be found on the website of the tax authorities. The Federal Public Service Finance will contact you if you have declared foreign real estate in your most recent tax return. 'This does not alter the fact that anyone who is not contacted by the tax authorities must take the initiative themselves and must spontaneously submit an information form,' says Wim Vermeulen, lawyer at Cazimir. In any case, you should take action if you bought foreign real estate in 2020. You have not yet stated this in a tax return and the tax authorities are not yet aware of this, 'says Lombaerts.
If you bought property abroad after 1 January 2021, you must request a declaration form spontaneously and no more than four months after the purchase by e-mail or letter. 'The taxpayer is now allowed to do that. The notification must be made within four months of the purchase. So for a purchase that took place in January, that is before June, 'says Adyns.
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Source: De Tijd written by Petra De Rouck

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