HOLIDAYS to the Canary Islands could become a lot cheaper, thanks to Brexit according to reports.
The Canary Islands government is planning to offer Brits a tax break, meaning visitors will be spared local VAT rates to keep prices low.
The IGIC, or ‘Canary Indirect General Tax’ currently sees holidaymakers paying around seven per cent on services such as restaurant and bar bills.
The proposed scheme would see Brits able to reclaim these payments.
Existing schemes of this nature are already in place for non-EU visitors, such as the Russians.
In order to have the same tax break in place for Brits the Canary Islands’ authorities need to follow a legal process, which has been started in a bid to prepare for the arrival of a post-Brexit market.