7.1.4 Bonus income from sales of tangible assets produced in the Canary Islands (Article 26 Law 19/1994)

This code will record the bonus in the quota regulated in article 26 of Law 19/1994, of July 6, modifying the Economic and Fiscal Regime of the Canary Islands, in the following terms:

• Bonus percentage : 50 percent, without prejudice to the limits established in the community regulations that may affect it.

• Entities affected by : Taxpayers domiciled in the Canary Islands or domiciled in other territories who are dedicated to the production of the goods affected by the bonus in the Canary Islands, through a branch or permanent establishment.

• Bonus returns : Income derived from the sale of tangible assets produced by the entity itself in the Canary Islands, typical of agricultural, livestock, industrial and fishing activities, provided that, in the latter case, deep-sea fishing is landed in the Canary Islands ports and manipulated or transformed. in the archipelago.

• The bonus will not apply to income derived from the sale of tangible assets produced in the Canary Islands, typical of shipbuilding activities, synthetic fibers, the automobile industry, the steel industry and the coal industry.

• This bonus will be applied provided that it is not excluded from its application due to incompatibility between State aid or conditional on the provisions of the corresponding community guidelines, or its enjoyment is prevented until the aid is reimbursed of State perceived and declared illegal and incompatible with the common market.