New legislation on incentives for vessels of other EU or EEA member states entered on the Canary Islands Special Register (REBECA)
Final provision one of Law 11/2021 on measures to prevent and combat tax fraud (BOE of July 10, 2021) has amended Law 19/1994 on the Canary Islands tax and economic regime to adapt the Canary Islands Special Register of Vessels and Shipping Companies (REBECA) to the 2004 Community Guidelines on State aid to maritime transport.
Briefly, the new legislation states that the vessels of shipping companies entered on REBECA which were registered in another EU or EEA member state will be regarded as entered on REBECA for the purposes of claiming the tax and social security incentives associated with it, provided that they fulfill the same requirements and conditions as additional provision sixteen of the currently in force Revised State Ports and Merchant Shipping Law (TRLPEMM) lays down for vessels to be entered on REBECA.
The new legislation, which remains to be implemented by secondary legislation, applies in taxable periods commencing on or after January 1, 2021 and which have not ended on the entry into force of that Law 11/2021, in other words as of July 11, 2021.
Its provisions are separate from the draft bill under examination on reforming the Maritime Shipping Law (LNM) and the Revised State Ports and Merchant Shipping Law (TRLPEMM) which, among other matters, also seeks to amend a few matters related to REBECA, as described here.
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