The Canary Islands have one of the most attractive tax regimes for film and audiovisual productions in Europe!

• Canary Islands Special Zone (ZEC): Advantages include a reduced corporate income tax rate of 4% with certain conditions.

• IGIC – Canary Islands General Indirect Tax: Standard rate of 7%, with the possibility of 0% for certain categories of audiovisual production. 

• Reserve for Investments in the Canary Islands (RIC): this allows for reduction of the taxable income for the purposes of Corporate Income Tax of up to 90% of undistributed profit in exchange for certain reinvestment commitments.