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IMPORTANT NOTE – General Budgets of the Canary Islands for the year 2020

On December 19, 2019 the General Budgets of the Canary Islands were approved for the year 2020 ⚖

The main changes that will take effect on January 1, 2020 are:

  1. Increase in the general IGIC rate from 6.5% to 7%
  2. Increase of the IGIC increased rate from 13.5% to 15%
  3. Increase of the reduced rate from 3% to 7% to telecommunication services
  4. Increase of type 0% to the reduced rate of 3% to deliveries of electricity, except in homes.
  5. The 99.9% bonus of the Inheritance and Donations Tax is eliminated, which will be replaced by progressive bonuses, from the amount of 300,000 euros

So all those activities that are subject to these types of IGIC, must take it into account to modify their management programs

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