As a first tax flash of 2020, we inform you that on December 31 the Law 19/2019 of the Canary Islands General Budget was published and, among other legislative changes, the tax rates of the General Indirect Tax of Canary Islands (IGIC) have increased: (i) the general tax rate, from 6.5% to 7%; (ii) the tax rate of the telecommunications services, from 3% to 7%; and increased tax rate, from 13,5% to 15%.

These changes are applicable from the 1st of January of 2020.