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Form 100. Personal Income Tax Return Declaration 2017

8.7.8. Deduction for income derived from the production of tangible assets in the Canary Islands

Income derived from the sale of tangible assets produced in the Canary Islands by the taxpayer himself enjoys a bonus of 50% of the quota corresponding to them.

REQUIREMENTS

  • That the income is derived from the sale of tangible assets produced in the Canary Islands by the taxpayer himself.

  • Whether they are agricultural, livestock, industrial or fishing activities. As for deep-sea fishing, to benefit from this bonus it must be landed in Canarian ports and manipulated or transformed in the archipelago.

  • That the taxpayers are domiciled in the Canary Islands. If they are domiciled in other territories, they must be dedicated to the production or transformation of the aforementioned goods in the Canary Islands through a branch or permanent establishment.

  • That they determine their returns in a direct estimation regime.

  • That the net returns eligible for bonuses are positive.

COMPLETION

In box 0527 of section "M. Tax calculation and result of the declaration" a data capture window will open and the net (reduced) returns derived from the indicated production activities will be recorded.

Subsequently, the program will break down the state and regional part of the deduction.

Information about calculations

For information purposes only, this data capture window shows the result calculated by the program of the part of the full quota that proportionally corresponds to the returns derived from the sale of tangible assets produced in the Canary Islands, both in the joint declaration and in the individual declarations of the declarant and the spouse.