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V3283-20 ·5 November 2020 ·consulta-vinculante Medium impact
Tax

Vehicle purchases may qualify for the Canary Islands Investment Reserve if used for business and meet investment requirements

A company inquired whether acquiring a mixed-use or passenger vehicle would allow for the application of the Canary Islands Investment Reserve (RIC). The Directorate-General for Taxes (DGT) ruled that this is possible provided the vehicle is a tangible fixed asset used for business purposes, operated in the Canary Islands, and necessary for the conduct of the activity.

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2020-11-05PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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