The Canary Islands Economic and Tax Regime (REF). Take full advantage of every tax benefit and incentive of our special regime.
The REF offers a set of tax incentives that are unique in Europe. At JAIZME we are specialists in this regime and help you make the most of its advantages: RIC, ZEC, investment deductions and much more.
The RIC allows up to 90% of undistributed profits to be deducted from the corporate income tax base, in exchange for committing them to certain investments. We advise you on the requirements and the best way to apply it.
The REF is not just the RIC and the ZEC. It includes a broad catalogue of tax incentives that can benefit your company: investment deductions, production allowances, exemptions on corporate transactions and advantages in inter-island trade.
The Canary Islands Economic and Fiscal Regime (REF) is a set of tax incentives specific to the archipelago —RIC, ZEC, the Canary Islands investment deduction and reduced IGIC, among others— designed to offset its remoteness and boost investment and employment. It allows companies and self-employed professionals in the Canary Islands to be taxed considerably more favourably than in the rest of Spain.
The Reserve for Investments in the Canary Islands (RIC) allows you to reduce the Corporate Income Tax base by up to 90% of undistributed profits, provided that amount is allocated to a reserve and reinvested in the Canary Islands in the assets and within the timeframes set out by law.
The RIC is a reduction of the taxable base for reinvesting profits in the Canary Islands; the ZEC is a reduced Corporate Income Tax rate of 4% for entities registered in the Canary Islands Special Zone. They are different REF incentives that, in certain cases, can be combined to optimise taxation.
Companies and self-employed professionals with genuine economic activity in the Canary Islands that meet the requirements of each incentive (investment amounts, asset retention, job creation or maintenance, etc.). At JAIZME we analyse your case to apply the most advantageous and secure combination of incentives.
Maximise the tax benefits of operating in the Canary Islands.
