Tax Incentives - Europe´s most attractive tax zone.
The Canary Islands historically benefit from different and stable economic and fiscal treatment in order to compensate for the effect of its insularity and remoteness. Thus, they have their own Economic and Fiscal System (REF), 19/1994 on the Economic and Fiscal System of the Canary Islands, subject to Spanish law and fully authorized by the EU.
The REF includes a series of tax incentives related to creating and developing business, some of the most outstanding of which, are:
Advantages of the Indirect Canary Islands General Tax (IGIC) related to VAT with a general rate of 5%, zero application to certain products and services like telecommunications or for the acquisition of investment assets as well as a limit for operating volume.
50% tax credit on the profits obtained for the sale of corporeal goods produced on the Canary Islands.
Significant tax deductions for investments made in sectors of interest.
Two duty-free zones of the five existing in Spain. The companies that set up in Canary Islands duty-free zones can also receive all other benefits offered by the REF.
These incentives mean that the Canary Islands is highly attractive investment and Tax location!
It is important to state that these are Government and EU backed incentives which means that they ARE NOT a fiscal paradise… With incentives this attractive why would you feel the need to hide your money off-shore?
The Canary Islands offers flexibility of movement of funds something which Tax Havens simply cannot.
If you have an interest in progressing an enquiry, please contact by email email@example.com
There is a 5 Step Process to go through to be accepted onto this Tax Break programme. The process is conducted by the Government and agencies operating on their behalf.