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The Government of the Canary Islands postpones the IGIC until June 1

The Government of the Canary Islands postpones the IGIC until June 1

The Government of #Canarias have postponed IGIC, the local value added tax, until June 1, allowing an injection of €600M into the economy of the islands

President Ángel Víctor Torres has created a Management Committee in the areas of Health, Economy and Social Rights, focused on stopping the spread of Covid-19

The President of the Government of the Canary Islands, Ángel Víctor Torres, announced this week, after the ordinary Government Council was held, a reorganization of the health ministry to strengthen management and face the situation generated by the spread of Covid- 19.

Economic measures

In addition, economic measures have been approved  by the Governing Council. Among them, a supplement of €20 million has been given the green light to reinforce the Canary Islands Health Service. “This is an amount that could be expanded in the coming weeks if necessary,” said the president.

Among the most important economic measures, Ángel Víctor Torres has announced that the Vice President of the Government and Minister of the Treasury, Román Rodríguez, will proceed to sign an order for suspension and extension of terms for the payment of the Indirect General Canary Tax (IGIC), part of the Tax of Patrimonial Transmissions and Documented Legal Acts and suspended Successions and Donations until June 1. President Torres confirmed that this decision translates into an injection of around €600 million into the Canary Islands economy.

The Government of the Canary Islands, likewise, has agreed to top up benefits for extraordinary cessation of activity, when it comes to the self-employed, autonomos, a system known as the unemployment benefit of the self-employed, which establishes a Royal Decree approved by the Government of Spain, to extend up to 100% coverage. The central government will contribute 70 percent of its regulatory base payment, and the Executive that Torres presides over will contribute the remaining 30 percent. The President of the Canary Islands has also stated that they have activated these mechanisms “so that the hundreds of Temporary Employment Regulatory Files (ERTES) that are being presented are streamlined.”

Another measure that has been announced in steps being taken by the Governing Council and the Ministry of Health, has been the launch of a free television service in all Canarian hospitals.

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