Canary Islands.- Within the framework of the unique Canary Islands tax system, there is an incentive whose purpose as regional state aid is to contribute to the economic diversification of the regional production model, betting on attracting business investment to the islands in sectors of activity that promote economic growth and job creation: the Canary Islands Special Zone (ZEC).
Hence, to achieve this goal, this regime offers companies that are committed to establishing themselves on the islands a set of tax advantages to make them more competitive. Regarding the companies with legal requirements to operate in the ZEC, in addition to complying with the requirements established by the regulations, they must be companies whose activity diversifies the regional economy within the sectors: industrial, wholesale trade and services. All operational activities under this regime are taxed at 4% in Corporation Tax, a single tax within the framework of the member states, which also has the authorization of the European Union (EU), a fundamental issue for a safe investment.
Among the outstanding activities of the operating companies we find information and telecommunications technologies (ICT), activities related to tourism, transport and related activities, the audiovisual sector, renewable energy, recycling, manufacturing, R + D + i, business services , chemical industry, agri-food sector and wholesale trade and commercial intermediation, among many others.
The ZEC is projected as one of the great attractions of the islands for business, since the Canary Islands are an opportunity for companies.