Canary Islands IGIC — Annual Models
The IGIC (Impuesto General Indirecto Canario) follows a quarterly and annual filing cycle distinct from mainland Spanish VAT (IVA). Frihet prepares a preview of the annual IGIC models (Modelo 415 and Modelo 425), which you download as a PDF to file them at the electronic office of the Canary Islands Tax Agency (ATC — Agencia Tributaria Canaria).
Models covered by Frihet
| Model | Name | Frequency | Who files |
|---|---|---|---|
| M415 | Annual operations with third parties > €3,005.06 | Annual (February) | All IGIC taxpayers |
| M425 | Annual IGIC summary return | Annual (January) | IGIC taxpayers, except those keeping their books through the SII |
Frihet does not calculate the AIEM (Arbitrio sobre Importaciones y Entregas de Mercancías en las Islas Canarias).
Initial setup
- Go to Settings → Billing and choose Canary Islands (IGIC) as your fiscal zone.
- Enter your NIF/CIF.
VeriFactu in the Canary Islands
VeriFactu also applies to taxpayers with their tax domicile in the Canary Islands: the AEAT includes them in the scope of RD 1007/2023 and reads references to VAT as references to IGIC (AEAT FAQ). With the Canary Islands fiscal zone, submitting the records to the AEAT is not available in Frihet. See VeriFactu for how it works in Frihet.
Modelo 415 — Operations with third parties
Modelo 415 reports all customers and suppliers with whom your cumulative annual operations exceeded €3,005.06 (IGIC included). It is the Canary Islands equivalent of mainland Spain's Modelo 347, using ATC-specific schemas.
M415 Threshold: €3,005.06 per third party / calendar year
Filing window: February of the following year
Submission: ATC electronic office
Frihet tracks cumulative volume per customer and supplier NIF/CIF throughout the year.
Modelo 425 — Annual IGIC summary
Modelo 425 closes the annual IGIC fiscal year: it totals all output and deductible input IGIC quotas for the year, reconciles against the four quarterly Modelo 420 returns filed, and computes the final annual balance. Frihet prepares the Modelo 425 preview from the four quarters of Modelo 420:
- Go to Finance → Taxes → Calendar and pick the year.
- Under Annual Declarations, below the quarters, review the Modelo 425 preview.
- Download the PDF and file Modelo 425 at the ATC electronic office.
Taxpayers who keep their IGIC record books through the SII do not file Modelo 425, whether the SII is mandatory for them or they opted into it.
Modelo 418 — Groups of entities (monthly)
Modelo 418 is the individual monthly IGIC return of each entity under the special regime for groups of entities. It is not the return for large companies in general. Frihet does not prepare Modelo 418.
Large companies (volume of operations above €6,010,121.04 in the previous year) file IGIC monthly under the SII with Modelo 417. The SII is also mandatory for taxpayers registered in the REDEME and for entities in the group regime.
M418 filing deadline: last day of the following month