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Tenerife has the best tax regime in Europe, through the Canary Islands Special Zone (ZEC), with a 4% Corporate Tax, instead of 30% of the general regime and well below the European average.
The Canary Islands Economic and Tax Regime (REF) has a unique character at European level: Fully authorised, transparent and compatible with EU legislation.
Tenerife offers a combination of low taxation, bilateral agreements to avoid double taxation and reciprocal protection of investments, the Investment Reserve of the Canary Islands (RIC), which contemplates a reduction in the taxable base of up to 90% of the Undistributed Profits and Tax Deductions for investment in R+D or innovative activities.
Tenerife offers the possibility of accessing the Free Trade Zone with total exemption from import duties, indirect taxes and special taxes on goods imported from and to a third country outside the European Union.