The president and vice president of the Government of the Canary Islands, Ángel Víctor Torres and Román Rodríguez, have presented an economic plan to help various sectors today, including bars, restaurants, shops, and gyms, affected by the coronavirus pandemic that will amount to 400.8 million euros between tax deferrals and direct aid.
Torres explained during a joint press conference with Rodríguez, that the plan consists of two parts, on the one hand there is a generalized condition that will focus on the deferral of tax debts for six months, at an estimated cost of 41.8 million euros; and the postponement of IGIC in the first quarter, at a cost of 194 million euros.
Torres added that these 235.8 million euros from tax deferrals will be financed from a credit policy that the Government of the Canary Islands will sign.
As for the second part of the plan, it focuses on direct aid for bars, restaurants, shops, sports centres and tourism businesses for an amount of 165 million euros, which in this case is expected to come from European funds. Although this is still being negotiated, and both Torres and Rodríguez are confident it will be agreed, they confirmed that if in the end it doesn’t come from that source, it will be recorded as a debt.
