Canaries Investment Reserve (RIC)
This tax incentive allows a reduction on the tax base of the Corporate Income Tax of up to 90% of undistributed profits. Production companies can attract RIC from other companies to invest it in their productions provided that they get the “Canaries Film Certificate” granted by the Government of the Canary Islands. RIC can be invested in feature films, short films, drama series, animation or documentaries provided that they are made in the Canaries.
Deduction for innovation: 45%
45% deduction on technological innovation activities carried out in the Canary Islands.
Deduction for advertising and publicity: 15% – 10%
10% to 15% deduction on the amount invested on advertising and publicity to launch products to open and research foreign markets and take part in trade fairs and similar events, including those held in Spain of international scope.