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Home Europa Press

Torres awaits a “favorable” interpretation from the State to save triangular trade in the ZEC

April 26, 2022
in Europa Press
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Torres awaits a “favorable” interpretation from the State to save triangular trade in the ZEC
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SANTA CRUZ DE TENERIFE, 26 Apr. (EUROPE PRESS) –

The President of the Government of the Canary Islands, Ángel Víctor Torres, has shown this Tuesday his desire for an agreement to be reached with the central government so that there is a “favorable” interpretation and the triangular trade in the Canary Islands Special Zone (ZEC) can be saved. ).

In response to a question from ASG, he pointed out that the Canarian Government and the Ministry of Finance itself are in favor of maintaining this practice in the face of the more restrictive criteria of the Tax Agency, which puts obstacles to this modality if the goods do not pass through the archipelago .

Torres has stressed that triangular trade is a “basic” pillar of the ZEC and although he has defended that there is no “conflict” between governments, he has transferred his “concern” to the Ministry to find a solution.

The ASG spokesman, Casimiro Curbelo, has commented that the ZEC serves to “create employment and wealth” and it is a “tradition” that companies from all over the world “settle in the Canary Islands” to carry out triangular trade activities, so urges the Ministry of Finance to “clarify” the technical interpretation.

In his opinion, the State must make a “strong clarification” because there are some 120 companies that operate in the archipelago and that affect more than 500 workers.



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