The vice president of the Government of the Canary Islands and Minister of Economy, Industry, Commerce and Self-Employed, Manuel Domínguez, announced this Thursday in parliamentary commission tax deductions for the implementation of activities scarcely implemented in the islands. In response to a question from the Socialist Parliamentary Group, the councilor pointed out that the REF Commissioner is defining a proposal to apply a special regime for activities scarcely implemented in the Canary Islands.
Specifically, several options are being considered, such as the reduction in Corporation Tax, the 90% bonus in the employer contribution, the 50% deduction of the IRPF for highly qualified employees to encourage the attraction of talent, the streamlining of bureaucracy or the exemption of the IGIC. “This is about studying the best formula that we hope to have ready this year to start applying it in 2026.”
The councilor assured that the Government's intention is to attract sectors such as renewables, gaming, new technologies or the music industry to the islands with the aim of diversifying the economy of the Canary Islands and creating more competitive and productive companies. “I will always support a tax cut to attract investment to the Canary Islands, so that there is economic development, diversification of the economy and job creation,” he said.
The vice president of the Government also advocated for improving salaries, the purchasing power of the Canarians and working conditions because it will result in the improvement of the lives of the Canarians, but he stressed that these improvements must be “linked to productivity.”
