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Practical Income Manual 2021.

A. Deductions from the Corporate Tax Law applicable in the Canary Islands

Regulations: Art. 94 and 94 bis of Law 20/1991, of June 7, modifying the fiscal aspects of the Economic Fiscal Regime of the Canary Islands.

The following deductions provided for in Law 27/2014, of November 27, on Corporate Tax (hereinafter LIS) are applicable in the Canary Islands with increases in the corresponding deduction percentages or in the amounts set, as well as with respect to the joint maximum limit applicable.

  1. Application in the Canary Islands of the deductions of articles 35 and 36 LIS
  2. Application in the Canary Islands of the deduction of article 38 LIS
  3. Deductions not applied in the year due to insufficient quota
  4. Joint limit of deductions of articles 35, 36 and 38 LIS in the Canary Islands