Tax changes in the General Budget Law of the Autonomous Community of the Canary Islands for 2025

The Official Gazette of the Canary Islands of 30 December published Law 5/2024 of 26 December on the General Budget of the Autonomous Community of the Canary Islands for 2025, which approves various tax changes, primarily within the scope of regional powers regarding personal income tax (brackets of the general taxable base, allowances and deductions) as well as the General Indirect Tax (IGIC) (tax rates and exemptions).