Today, the acting president and vice president of the Canary Islands Special Zone (ZEC), Pedro Alfonso Martín, held a meeting at the head office in Santa Cruz de Tenerife, with the new delegate of the Spanish Association of Tax Advisors (Spanish acronym: Aedaf) for the Canaries, Jaime Cabrera, and the delegate of the Aedaf for Tenerife, Julio García. The aim of this meeting was to boost institutional relations in order to promote the advantages of the incentive between companies both on a regional and a national scale
Along these lines, the ZEC and the Aedaf in the Canary Islands agreed to collaborate in three main pillars of action: to publish monographs, to hold meetings with tax advisors and businessmen from sectors of activity of interest and to publish in the association’s digital magazines. The agreement made as a result of this meeting dovetails with the strategy of the ZEC to disseminate the benefits of this low taxation regime abroad. The latter aspect determines the configuration of the promotional calendar for the current financial year, which is oriented to the attraction of foreign investment for the internationalisation of the regional economy, the diversification of the productive fabric and the generation of employment in the islands.
During this meeting, aspects related to the incentive´s particularities were addressed. One of these features is the special tax at 4% on Corporate Tax; this tax rate represents an added value in the promotion of the Canary Islands as a destination for companies that value the opening to new markets of activity for their operations. It was also emphasized that the promotion actions of the tax regime are aimed at economic sectors especially sensitive to the potential offered by the Canary Islands: audiovisual activities, information and communication technologies, technology and innovation, outsourcing and business services, renewable energy, services related to port infrastructures and tourism support, as well as distribution, logistics and transport, and the blue economy.
In addition, it was highlighted that the promotion work is carried out in collaboration with different institutions of the Canary Islands and the State of Spain, and through a network of prescribers (lawyers, tax advisors and consultants). These aspects encourage the islands to be increasingly present in international markets. Last but not least, the latest data recorded was also mentioned, highlighting that a total of 611 companies are registered in the Official Register of the Canary Islands Special Zone Entities (ROEZEC). Together, these companies have created 9,146 jobs and an investment of 1,031 million Euros.