The Canary Islands tax guide for the video game industry is now available to download

Video Games industry Canary Islands Tax Guide

The video games industry is one of the industries with the best prospects at a global level, with a growth of 1.4% in 2021 and a turnover of 159,000 million euros worldwide. Therefore, for the Canary Islands it is a strategic sector with a high potential for investment and employment creation. In this way, the video games sector offers the greatest potential for growth.

A study carried out by PROEXCA and the consultant Deloitte in 2020 analysed the real situation of this incipient industry and the opportunities it could bring to the Canary Islands. This exhaustive and detailed study offers an x-ray of the video games sector in the Canary Islands and constitutes a starting point for understanding the value chain, the strengths and opportunities of the sector and the strategies to follow in the future.

Now, the Government of the Canary Islands is aligned with the objective of strengthening and making this industry more competitive in the Canary Islands and, among other actions, PROEXCA on behalf of the CANARY ISLANDS FILM has developed the Fiscal Guide for the Video Games Industry in the Canary Islands, which aims to guide video game studios on how to apply the tax deductions of the Islands to their creations thanks to the Economic and Fiscal Regime of the Canary Islands (REF).

These deductions include a 45% Deduction for the development of video games or a 4% Corporate Tax Rate, among other advantages offered by the Islands such as local talent and industry, connectivity, infrastructures and quality of life. This Guide also specifies the deductions for investment in technological innovation activities, deductible expenses, who can be benefited, how to obtain the deduction and the legal regulations, as well as the incentives of the ZEC and other incentives. These circumstances make the Canary Islands one of the best places in Europe for the development of video games.

You can download the guides in Spanish or English by clicking on the following links:

Download Spanish Guide
Download English Guide