The ZEC Zone
The Canarian Special Zone (ZEC) is a zone of low taxation (up to a 4%) that was created under the Canarian Economic and Fiscal System (REF) with the purpose of promoting the archipelago’s social and economic development and diversifying its productive structure.The Canarian Special Zone was authorized by the European Commission in January, 2000. Subsequently the Spanish Government has proceeded to the adaptation of the regulations from Economic and Fiscal Canarian System to the ZEC regulations, according to the terms.
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