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AIEM Tax Derogation for the Canary Islands

Summary

The report supports extending tax exemptions for locally produced goods in the Canary Islands until 2027 to offset high production costs caused by geographic isolation.
9 01.12.2020
Other
economy
taxation
administrative law

Key points

  • The proposal uses special legal provisions to support outermost regions facing economic constraints.
  • Tax exemptions for locally produced goods in the Canary Islands are proposed to continue through 2027.
  • Exemptions are limited by a maximum price impact of 15% per product and an annual total cap of 150 million euros.
  • To qualify, goods must meet specific criteria regarding local market share and the threat of imports.
Documents (PDFs)
REPORT on the proposal for a Council decision on the AIEM tax applicable in the Canary Islands AIEM tax in the Canary Islands *
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