Canarian Fiscal Regime. General Issues

The Autonomous Community of the Canary Islands enjoys a special economic and fiscal regime. This regime incorporates the principles and rules applicable as a consequence of the recognition of the Canary Islands as an outermost region of the European Union (Article 349 of the Treaty on the Functioning of the European Union).

In the territory of the Autonomous Community of the Canary Islands in the area of indirect taxation, Value Added Tax (VAT) is not applied as in the rest of Spain. In this area, the Canary Islands apply the Canary Islands General Indirect Tax (IGIC). The general rate of the Canary Islands General Indirect Tax (IGIC) is 7%, unlike in the rest of Spain, where the rate is 21%.

The Tax on the Transport of Goods (AIEM), the Tax on Fuels Derived from Petroleum and the Tax on Tobacco Products are also indirect taxes specific to the Autonomous Community of the Canary Islands, which are also different from the rest of Spain.

Así mismo existen, a la hora de invertir en nuestras Islas, incentivos fiscales para promocionar la creación de riqueza y empleo.

The Canary Islands Special Zone (ZEC) is a low tax zone created within the framework of the Canary Islands Economic and Fiscal Regime (REF), with the aim of promoting the economic and social development of the Canary Islands and diversifying its productive structure. https://canariaszec.com/

RIC (Canary Islands Investment Reserve) This is an important tax benefit for entities subject to Corporation Tax and for individuals (taxpayers of Personal Income Tax) who carry out economic activities through a permanent establishment in the Canary Islands, whether or not they have their tax residence there.

There are other incentives and tax exemptions depending on the nature and amount of the investment that we will explain to you depending on the type of action you wish to carry out in our Islands.

Leave a Comment

Your email address will not be published. Required fields are marked *