Well, they don’t have to look very far to establish that the Canary Islands promote their own ‘fiscal paradise’ saying that they have the best company tax in the European Union - that’s only 4%! How about that?

It’s how they sell their ‘fiscal paradise’ to international investors, enticing them virtually to pay no taxes.

The political parties in the Canary Islands have supported the Madrid government in their problems regarding the passing in Congress of the all-important Estimates. And now they want something else in return, that the Madrid government join them in their worldwide promotion of their ‘fiscal paradise’. The ‘road show’ started last week in the USA.

By establishing themselves in the Canaries, companies can save 84% of the tax they would have paid if operating within the Spanish mainland and 90% if they operated from countries such as Germany, France and Italy.

So there you are, the same Spanish Government that is forever attacking the Rock sees nothing wrong of their territory having lower company taxes than Gibraltar. Political hypocrisy, yes sir!

14-05-18 PANORAMAdailyGIBRALTAR