Canary Island rates for 2019
The lower income tax brackets have been reduced from 9.5% to 9% (for income up to €12,450 and from 12% to 11.5% (for income between €12,450 and €17,707).
This is just the portion of income tax applicable in the Canary Islands, the state portion of the rates is yet to be pubished (23/1/2019)
The rest of the Canary Island tax brackets remain the same (up to 24%, this top rate applying to income over €90,000) and they will all need to be added to the state rates once these are available to arrive at the final applicable income tax rates for residents of the Canary Isles.
Income Tax 2018
|From (Euros)||To (Euros)||State tax %||Regional tax %||Total tax %|
Capital Gains Tax Rates
|First 6,000 Euros:||19%|
|6,000 – 50,000 Euros:||21%|
|50,000 + Euros:||23%|
Straight line method can be used for any depreciable asset. Reducing balance method can be used for new tangible assets with estimated useful life of at least 3 years
|Maximum straight Line rate %||Maximum Useful Life years|
|Buildings and other
|Fixtures & Fittings /