Spain Announces Income Tax Deductions for Housing Rentals, Energy-Efficiency Improvements

The Spanish Government March 31 announced two income tax deductions concerning housing rentals and energy-efficiency improvements. The announcement includes that: 1) landlords renting out homes in stressed areas can deduct up to 90 percent of rental income if they reduced their rent by 5 percent over the previous contract; 2) landlords renting in stressed areas can deduct 70 percent of rent if the property is rented to young individuals between ages 18 and 35; 3) the residential rental deduction remains at 50 percent in the rest of the country, except a 60 percent deduction applies for rented homes that have ...