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A query is made regarding the calculation of the 50% reduction in the aggregate tax liability for income derived from the sale of tangible assets produced in the Canary Islands. The DGT clarifies that IRPF taxpayers may apply it if they use the direct estimation method and meet the requirements for agricultural, livestock, industrial, or fishing activities.
Question posed: Calculation of the 50% reduction in the aggregate tax liability corresponding to income derived from the sale of tangible assets produced in the Canary Islands, as provided for in Article 26 of Law 19/1994 of the REF.
IRPF taxpayers engaged in agricultural, livestock, industrial, or fishing activities may apply a 50% reduction to the portion of the aggregate tax liability that proportionally corresponds to the income from the sale of tangible assets produced in the Canary Islands. To this end, they must determine the income using the direct estimation method. If the deduction for the Canary Islands Investment Reserve (RIC) also applies, the reduction is applied to the aggregate tax liability already reduced by said deduction. The reduction does not apply to sectors such as shipbuilding, synthetic fibers, automotive, steelmaking, or coal.
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