{"id":939,"date":"2017-04-26T09:30:08","date_gmt":"2017-04-26T09:30:08","guid":{"rendered":"http:\/\/localhost\/bestingc\/?page_id=939"},"modified":"2023-04-05T09:24:32","modified_gmt":"2023-04-05T09:24:32","slug":"tax-and-investment-concessions-2","status":"publish","type":"page","link":"https:\/\/bestingrancanaria.com\/en\/tax-and-investment-concessions-2\/","title":{"rendered":"Tax and Investment Concessions"},"content":{"rendered":"

[vc_row row_height_percent=”0″ back_image=”21437″ overlay_color=”accent” overlay_alpha=”70″ equal_height=”yes” gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ uncode_shortcode_id=”722282″ overlay_color_type=”uncode-palette” row_height_pixel=”500″ back_color_type=”uncode-solid” back_color_solid=”#1c0021″ shape_dividers=””][vc_column column_width_percent=”100″ position_vertical=”middle” gutter_size=”3″ style=”dark” overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”2\/3″ uncode_shortcode_id=”115942″][vc_column_text uncode_shortcode_id=”164326″]<\/p>\n

Tax and Investment Concessions<\/h1>\n

Gran Canaria is one of the Canary Islands, an autonomous region forming part of Spain and, therefore, of the European Union. As it is a fully integrated territory, the applicable legal system is that of Spain and the European Union. Moreover, its own special Economic and Fiscal system, entirely compatible with European regulations, offers reduced taxation on company profits and on consumer goods as well as access to other incentives to business investment.[\/vc_column_text][\/vc_column][vc_column width=”1\/3″][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/1″][vc_custom_heading uncode_shortcode_id=”141152″]General tax incentives[\/vc_custom_heading][vc_separator sep_color=”accent” uncode_shortcode_id=”756597″ sep_color_type=”uncode-palette” el_height=”4px”][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text uncode_shortcode_id=”119968″]Canary Islands Special Zone (ZEC).<\/em><\/strong> Businesses set up within the ZEC are subject to a reduced level (4%) of company tax. This option is particularly attractive to investors from other countries as no withholding tax applies to repatriation of dividends nor on the payment of interests to their headquarters.<\/p>\n

Tax deduction for the production of physical goods.<\/em><\/strong> This incentive offers a 50% reduction in company tax, applicable to businesses producing agricultural, livestock, fishing and industrial goods.<\/p>\n

The Canary Islands Investment Reserve (RIC).<\/em><\/strong> With this incentive the tax burden can be reduced by up to 90% of the company\u2019s profits, always provided that certain investments linked to the growth of the company are made.<\/p>\n

Deduction for investment in fixed assets.<\/em><\/strong> This means a reduction of company tax equivalent to 25% of the amount destined for the acquisition of fixed assets.<\/p>\n

Deductions for investments in RD&I and audiovisual productions:<\/em><\/strong><\/p>\n