THE CANARY ISLANDS SPECIAL ZONE (ZEC)

The Canary Islands Special Zone (ZEC) is a low tax area located in the Canary Islands territory. Based in a tax rate for Corporate Tax of 4%, together with other direct and indirect tax incentives, the ZEC is the most competitive tax scheme in the European Union.

Furthermore, from a geostrategic perspective, to be established in the Canary Islands lead to significant advantages for multinational companies of certain industries, for instance, involved in business activities in Africa (energy, mining or logistic) or even related to the technology industry, always under the umbrella and safety of the legal framework of the European Union.

In the link below you would find our article in the Bloomberg Tax publication, where we make an introduction of the tax scheme, explaining the tax benefits thereof and the requirements to become a ZEC entity.

Click here if you want more information about our VAT advisory services for the Canary Islands territory or you can contact us at info@diligens.es

https://www.bna.com/canary-islands-special-n73014476178/