Collecting rent is taxable income, even if it is your only property and even if the tenant pays in foreign currency. What changes from one owner to another is how much is subtracted before the rates are applied and whether someone withholds part of the tax from each payment. This guide covers what the Ley de Impuesto sobre la Renta (Income Tax Law; Gaceta Oficial, the Official Gazette, No. 6.210 Extraordinario, December 30, 2015), its 2003 Reglamento (implementing regulations) and Decreto 1.808 on withholding say.
We could not review the portal of the SENIAT (the national tax authority), which does not load from outside Venezuela. Confirm forms, current deadlines and extensions with an accountant before filing.
Rent is taxable income
The Law taxes the income of individuals (articles 1 and 7) and counts leases within gross income (article 16). Rent from a property located in Venezuela is Venezuelan-source income (article 6, literal g), so it is taxed here even if you live abroad. None of the exemptions in article 14 covers residential rent.
Two rules that surprise people:
Spouses who are not under separation of property file jointly (articles 54 and 78 of the Law).
What expenses you can subtract and which desgravamen (personal deduction) applies
Article 27 lets you subtract from income, among others:
Depreciation almost never applies. For rented properties, the Law and the Reglamento only allow it when they are rented to the company's workers (article 27, Parágrafo Noveno, and article 56 of the Reglamento).
Then, if you are a resident, you subtract a desgravamen. You choose one of two:
From the resulting tax you subtract a personal rebate (rebaja personal) of 10 U.T., plus 10 U.T. more for your spouse and for each dependent ascendant or descendant who meets the conditions of article 59. Desgravámenes and rebates are only for residents (articles 57, 58 and 60).
The rates: 6% to 34% in tax units
The article 50 rate schedule applies by brackets to net income. It is expressed in U.T., worth Bs 43 since June 2025 (Providencia SNAT/2025/000048, Gaceta Oficial No. 43.140 of June 2, 2025, according to Acceso a la Justicia and PwC Venezuela). For an annual tax, the U.T. in force at the close of the fiscal year is used (Código Orgánico Tributario, the Organic Tax Code, article 3, Parágrafo Tercero).
| Bracket (U.T.) | With the U.T. at Bs 43 | Rate on that portion |
|---|---|---|
| Up to 1,000 | Up to Bs 43,000 | 6% |
| 1,000 to 1,500 | Bs 43,000 to 64,500 | 9% |
| 1,500 to 2,000 | Bs 64,500 to 86,000 | 12% |
| 2,000 to 2,500 | Bs 86,000 to 107,500 | 16% |
| 2,500 to 3,000 | Bs 107,500 to 129,000 | 20% |
| 3,000 to 4,000 | Bs 129,000 to 172,000 | 24% |
| 4,000 to 6,000 | Bs 172,000 to 258,000 | 29% |
| Over 6,000 | Over Bs 258,000 | 34% |
If you are not a resident, you pay 34% (article 50, Parágrafo Único). A non-resident is someone who does not spend more than 183 days of the calendar year in the country and does not qualify as domiciled under the Código Orgánico Tributario (article 51). If you rent out from abroad, see also how to rent out your property in Venezuela from abroad.
Withholding when a company or a management company pays
Decreto 1.808 (Gaceta Oficial No. 36.203, May 12, 1997) still applies until the SENIAT issues new providencias (administrative rulings) (article 196 of the Law). Its article 9, numeral 12, requires withholding by legal entities or comunidades (co-ownership groups) that pay the rent directly to the owner and by management companies (administradoras) that pay owners:
If your tenant is an individual and pays you directly, numeral 12 does not require them to withhold. Withholding is done on payment or on crediting to an account, whichever comes first (article 84 of the Law). The withholding agent must give you a receipt for each withholding (article 24 of the Decreto), and the amount withheld is deducted from the tax on your annual return, with the right to an offset or refund if there is an excess (article 11 of the Decreto).
When to file, and what happens with dollars
Who must file. A resident whose net income for the year exceeds 1,000 U.T. (Bs 43,000) or whose gross income exceeds 1,500 U.T. (Bs 64,500) (article 77). A non-resident files whatever the amount (article 79); the Reglamento exempts income that has already had full withholding (article 138).
Deadline. Within the three months following the close of the fiscal year (article 146 of the Reglamento). For individuals who have no commercial, industrial or service activities, the fiscal year is the calendar year (article 148), so the deadline is March 31, unless extended.
Advance payment. The Reglamento requires an individual with more than 1,500 U.T. of net income from rent in the previous year to calculate an advance payment based on 80% of their overall net income for the previous year (article 156). Ask your accountant how the SENIAT applies this today.
Rent in foreign currency. The 2026 lease law allows rent to be set in another currency and, by mutual agreement, paid as its equivalent in bolívares at the rate of the BCV (Banco Central de Venezuela, the central bank) on the day of payment (Gaceta Oficial No. 7.065 Extraordinario, article 14). For ISLR, the Reglamento requires income obtained in foreign currency to be converted into bolívares at the average exchange rate for the fiscal year, according to the BCV methodology (article 23, Parágrafo Segundo). The Law sets that average only for foreign-source income (article 16). We could not confirm how the SENIAT currently applies the Reglamento's rule to Venezuelan-source rent: settle the rate with your accountant.
Illustrative example
A hypothetical case, in U.T. so it does not depend on the exchange rate: a resident owner, with no other income, who rents an apartment to a company for 250 U.T. a month (Bs 10,750).
This is an example, not a tax assessment. Your actual expenses, other income and the choice between the standard and itemized desgravamen change the result; file your return with an accountant.