Canary Islands are not “Tax Havens”, there is no banking secrecy, so there is no concept of tax evasion or fraud.
The cost for ordinary goods and services is equal only to 7% (IGIC or Canary VAT), while in Italy the same cost is equal to 22% for VAT. Instead any kind of luxury goods and services this cost is equal to 13.5% – while in Italy in some particular cases it can be equal to 75% of taxation on the latter!
Pace Law Firm, thanks to the experience gained over the years, can provide full assistance, as well as complete all the information, expecially tax advantages and the many investment incentives (to do business in Canary Islands), among these the main ones are:
a) – General economic and tax regime and investment incentives (REF);
b) – Canary Special Area (ZEC);
c) – Reserve to invest in Canary Islands;
d) – Deductions for investments in Canary Islands;
e) – Incentives for the production of tangible goods;
f) – Fiscal advantages of Canarian Indirect Taxation;
g) – Special register of ships and naval companies;
h) – Canary Free Zones.