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Law 19/1994, from July 6, modifying the economic and fiscal regime of the Canary Islands contains a set of economic measures - the so-called economic REF - intended to directly compensate for remoteness and insularity. The measures currently included in the Law refer to the following areas: transport and telecommunications; energy and water; commercial promotion; tourism promotion and rehabilitation; employment creation; investment incentives and professional training. The REF includes the following tax incentives and peculiarities:


The approval of the new Economic and Fiscal Regime of the Canary Islands (REF), which entered into force on January 1, 2015, affects the tax benefits for audiovisual productions made in the Canary Islands.

In the Canary Islands, the tax incentive for Spanish productions is a 40-45% deduction on investments. And the incentive for foreign productions is a 40% deduction. Both incentives have a return limit of 5.4 million euros for national productions and 4.5 million euros for international ones.
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