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TAXES
 
The Canary Islands tax system
 
Is maintaining a significantly lower fiscal pressure than the average of the rest of Spain and of the European Economic Community.

Have a block of incentives designed to compensate for problems of territorial discontinuity and to promote activities tending to generate employment and which increase the internal and external competitiveness of Canarian companies.

Deductions and incentives for investment. Canary Islands' General Tax (IGIC). Tax savings based on choice between establishing the business in the Canary Islands or the rest of Spain.

The Canary Island Investment Reserve RIC. The Canary Island Investment Reserve, hereinafter RIC, is an instrument aimed at stimulating self- financed investment; i.e. companies that operate in the Canary Islands can finance their own investments.

 
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