The tax reduction also affects any Canary Islands citizen holding a telephone line, either land line or mobile. We wanted to start this section with a good piece of news, and we just couldn’t think of a better way to do it.
It had already been announced that the 90% of taxpayers from Canary Islands would benefit from these measures. The main beneficiaries are SMEs, self-employed workers and families. This is why the measures will almost certainly have a positive impact on you, in one way or another. It was during the last taxation period when they were applied for the first time and, because of that, canary families have already enjoyed them.
There are 18 measures shaping this tax reduction. They are mostly focused on the I.R.P.F. and on the I.G.I.C. (General Indirect Canary Islands Tax) and their impact is estimated to be in around 124 million euros. They range from the deduction of scholar expenses or personal assistance services expenses to rehabilitation of homes, donations and even, in young people first home purchasing.
But also, a significant share will be designated to complex social situations, such as foster minors institutions, single-parent families or certain medical expenses.
Moving to a different topic, the “pink tax” is eliminated; in other words, the feminine hygiene products are exempted from I.G.I.C.
After Canada, the Canary Islands are the second place in the world where taxes for this kind of products are not charged. And, finally, the tax reduction in telecommunications.
The I.G.I.C. applied to the phone bills has moved from 7% to 3%. A measure which reduces by up to 51.57% the previous tax applied. The impact has been calculated at 40 million euros.
Because of all items mentioned above, in Telecolanza we are delighted since it affects us both, personally and professionally. We hope you are part of that 90% and you can enjoy one of these tax reductions.