{"id":1171,"date":"2016-10-03T12:11:35","date_gmt":"2016-10-03T12:11:35","guid":{"rendered":"https:\/\/www.grancanariafilm.com\/?page_id=1171"},"modified":"2019-12-11T12:21:06","modified_gmt":"2019-12-11T12:21:06","slug":"zona-especial-canaria-zec","status":"publish","type":"page","link":"https:\/\/www.grancanariafilm.com\/en\/rodar-en-gran-canaria\/ventajas-fiscales\/zona-especial-canaria-zec\/","title":{"rendered":"CANARIES SPECIAL ZONE (ZEC)"},"content":{"rendered":"<p>A company doing production activities and activities related to the film sector can be established as a ZEC company and pay a reduced rate of 4% on Corporate Income Tax instead of the general 25% rate currently in force in Spain, provided that they meet the following requirements. ZEC companies can carry out a wide range of activities in the film sector like:<\/p>\n<ul>\n<li>Production<\/li>\n<li>Production services, on set assistance and post production<\/li>\n<li>Phoography and advertising<\/li>\n<li>Film distribution<\/li>\n<\/ul>\n<p><em><strong><span style=\"color: #f6b221;\">Requirements to be a ZEC company:<\/span><\/strong><\/em><\/p>\n<ol>\n<li>To be a new company or branch<\/li>\n<li>At least one of the administrators must reside in the Canary Islands.<\/li>\n<li>Invest a minimum of 100,000 \u20ac in tangible\/intangible fixed assets within a period of two years from the registration of the ZEC company (flexible amount according to employment volume.<\/li>\n<li>Create at least 5 jobs in the first six months of activity, maintaining this annual average during the entire term of the ZEC company.<\/li>\n<li>At least one of the administrators must be tax resident in the Canary Islands.<\/li>\n<li>The objects of the company must be one of the ZEC authorized activities.<\/li>\n<\/ol>\n<p><strong><em><span style=\"color: #f6b221;\">Benefits a ZEC company enjoys:<\/span><\/em><\/strong><\/p>\n<ol>\n<li>Reduced tax rate of 4% on Corporate Income Tax.<\/li>\n<li>Exempted from the Property Transfer and Stamp Duty Tax.<\/li>\n<li>Exempted from IGIC on import (both of raw materials and investment materials or finished products), and exemption in operations with other ZEC companies.<\/li>\n<li>The Double Taxation Avoidance Agreements apply as well as the exemption at origin on taxes for capital repatriation through the application of the parent-subsidiary directive.<\/li>\n<li>The restriction to apply the deduction on double domestic taxation on dividends has been lifted.<\/li>\n<\/ol>\n<p>This ZEC tax incentive is compatible with the tax incentives for film productions described in this website.<\/p>\n<p>&nbsp;<\/p>\n<p>For further information<a href=\"http:\/\/www.zec.org\"><span style=\"color: #f6b221;\"> www.zec.org<\/span><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>A company doing production activities and activities related to the film sector can be established [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":4,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-subpages.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-1171","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CANARIES SPECIAL ZONE (ZEC) &#8211; Gran Canaria Film Commission<\/title>\n<meta name=\"description\" content=\"Canary Islands Special Zone (ZEC): 4% corporate tax for audiovisual companies. 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