The Canary Islands-. The acting President and Vice-president of the Special Zone of the Canary Islands (ZEC), Pedro Alfonso, was visited by the new Regional Director of Commerce and Delegate of ICEX Spain Export and Investment in Las Palmas, Loreto Taborga Curto, who is replacing Rafael Molina Petit’s position. Alejandro Cañeque, the director of the Agency Department of Las Palmas also attended this first meeting, which took place in the ZEC offices in Las Palmas de Gran Canaria. Issues were addressed to intensify common action regarding international promotion aimed at the projection of the tax advantages of a very strong incentive with legal certainty. The main virtue of this incentive is a reduced rate at 4% on the Corporate Income Tax, applicable to companies whose economic activity is carried out in the Canary Islands.
Another issue dealt with during this meeting was to provide coverage in the archipelago to attract investment for the diversification of the economy and to generate value-added employment, since one of the priorities is the international projection of the incentive to attract solid investments to the Canary Islands. It is noteworthy to recall that the promotion work of the ZEC is also carried out in coordination with different institutions of the Canary Islands and the Spanish State and through a network of prescribers (lawyers, prosecutors and consultants, among others), “Which gives power to the Canary Islands and their singular and unbeatable tax regime and makes them more and more present on the international market”.
Figures were also discussed in this meeting. Alfonso reminded the rest of the attendants that the economic entity ended 2018 with 611 companies registered in the Official ZEC Register (ROEZEC), a commitment to create 9,146 jobs and an investment of 1,031,305,666.40 euros. These data are extracted from the ZEC´s activity report in 2018; this document also includes the historical balance in terms of companies, employment, investment, origin of capital, activity subsectors and other indicators.
Alfonso seized the opportunity to highlight Molina Petit´s significant career, as Regional Director of Commerce up to this day, and he insisted on Petit’s contribution to the economy of the Canaries. He also reminded those present of his work as President of the ZEC, and his role in its implementation and its regulations.