Canary Islands Investment Reserve
The reserve for investments in the Canary Islands (hereinafter, RIC) is a tax incentive that allows entities subject to Corporate Tax (except those excluded by article 27 and the twelfth Additional Provision of Law 19/1994, of July 6), the reduction in the tax base of the amounts that, in relation to their establishments located in the Canary Islands, they allocate from their benefits to the reserve for investments in the Canary Islands in accordance with the provisions of article 27 of Law 19/1994, of July 6, modifying the Economic and Fiscal Regime of the Canary Islands.
Keep in mind:
When applying this reduction, the special conditions provided for in the additional provisions first to fourth of Royal Decree-Law 15/2014, must be taken into account. ##2##of December 19, modifying the Economic and Fiscal Regime of the Canary Islands.
The provisions of the single transitional provision of Royal Decree-Law 15/2014, , which regulates the transitional regime must also be taken into account. applicable to RIC endowments made before January 1, 2015, to early RIC investments made before January 1, 2015 and to consideration as benefits not eligible for endowment the RIC to income that has benefited from the deduction regime of article 42 of RDLeg. 4/2004.