Canary Islands M.I.C.E Association pushes for event specific tax breaks

01/08/2023 admin

The Canary Islands M.I.C.E. Industry Association (Canarias MICE) was launched during the Covid19 pandemic with the major ambition of championing and promoting the best standards of industry practice on the Canary Islands. The nine founding members including TenTravel DMC defined four operating principles that members required to adhere to: transparency, fairness, responsibility and safety.

During the post pandemic period Canarias M.I.C.E has been meeting regularly to establish the industry priorities and are vesting particular efforts on their “star” project; this is non other than to get the Spanish and Canary Islands Tax authorities to create an event specific tax benefits formula. Canarias M.I.C.E. is actively pursuing the creation & approval of tax incentives related to the expenses incurred in the activities that encompass the M.I.C.E segment with direct impact on the tourism sector, and in the rest of transversal industries that this sector touches upon. Canarias M.I.C.E is pursuing benefits in investments and expenses in the realization of congresses, conventions, fairs, or similar events, of business, professional, academic or scientific content, developed in the Canary Islands which will entitle the organizer to deductions which are currently being negotiated.

The creation of tax incentives for M.I.C.E tourism would benefit the wide variety of agents involved from marketing to execution, in a sector that turns over approximately 12,000 million euros a year in Spain. In the Canary Islands alone M.I.C.E generated 178 million euros and thousands of direct and indirect jobs.

Look out for this section on our website blog and through the associations social media outlets.

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