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Practical Handbook for Companies 2021

Box 00029 Special system Canary Islands

Check this box for entities to which the Canary Islands Special Tax Regime applies.In particular, entities that apply the allowances referred to in Articles 26 and 76 of Law 19/1994, of 6 July, amending the Canary Islands Economic and Fiscal Regime, entities that apply the deductions for investments in the Canary Islands regulated in said Law 19/1994, as well as entities that have set up the reserve for investments in the Canary Islands regulated in Article 27 of said law, and are entitled to the reduction of the tax base for this concept or, where applicable, have failed to comply with the requirements that gave entitlement to this reduction in previous tax periods and must include the reduction of the tax base unduly applied in the tax base of the tax period being declared.This box should also be ticked by entities that apply the special regime of the Special Zone of the Canary Islands (ZEC) regulated in Articles 28 et seq. of Law 19/1994, of 6 July.

This box must be ticked whenever any of the sections of form 200 relating to the reserve for investments in the Canary Islands or deductions for investments in the Canary Islands provided for in Law 20/1991, of 7 June, on the modification of the fiscal aspects of the Canary Islands Economic Tax Regime and in Law 19/1994, of 6 July, on the modification of the Canary Islands Economic Tax Regime, are completed, as they are regulated in the special Canary Islands regulations and the information on tax benefits is required by the European Commission.