9,8,5. Deduction for income derived from the sale of bodily goods produced in the Canary Islands
Amount of the deduction
50% Of the part of the total amount reduced, if applicable, in the amount of the deduction for 100 the Canary Islands Investment Reserve, in the proportion that proportionally corresponds to the returns derived from the sale of personal property produced in the Canary Islands by the beneficiaries of the deduction.
The following requirements must be met for the application of the deduction:
- The physical assets produced in the Canary Islands derive from the exercise of agricultural, livestock, industrial and fishing activities, provided that, in the latter case, the fishing of height is landed in the Canary Islands ports and is handled or transformed in the archipelago.
- Taxpayers must be domiciled in the Canary Islands. If taxpayers are domiciled in other territories, they must dedicate themselves to the production of the aforementioned goods in the Canary Islands through a branch or permanent establishment.
- That determine their returns under the direct estimate scheme.
- The net returns with the right to a bonus are positive.
This discount regulated by article 26 of Law 19/1994 does not apply to returns derived from the sale of bodily goods produced in the Canary Islands, which are related to shipbuilding activities, synthetic fibres, the automotive industry, the steel industry and the coal industry.