Isabel and Agustín Pantoja, their unexpected move to save paying taxes

Willing to do anything to pay off her million-dollar debt with the Treasury and reset the counter to zero, Isabel Pantoja faces the most intense months on a professional level in recent decades. And she knows that to pay what she owes she needs to invoice, and there are already more than 20 concerts that she has signed throughout our geography within the framework of her ’50th Anniversary Tour’. And everything indicates that she will soon add performances to her agenda in different cities in Europe and in Latin America, where she is a big star. But in addition to earning significant amounts – since her net worth would be around 80,000 euros per show – she would also be trying to save. And as this Wednesday the magazine ‘Lecturas’ reveals, she would have made a coup by moving her companies to the Canary Islands to obtain important tax advantages and, therefore, pay less taxes. It was her brother and right-hand man Agustín Pantoja – who does not take a step without the approval of the singer – who last summer registered a company in Las Palmas de Gran Canaria called Tecan 4.40 SL and dedicated to the “representation of artists and other recreational and entertainment activities and the management of performance venues and organization of artistic events”. That is, to manage Isabel’s professional affairs. The benefit they obtain from moving their framework to the Canary Islands is clear at a fiscal level, since in the archipelago there is no VAT reduction and they pay 7% instead of 21% on the peninsula. A completely legal coup on the part of the tonadillera, which taking into account the millionaire income that she will have with her tour – which includes stops in Madrid, Valladolid, Córdoba or Tenerife – will save a considerable amount in taxes. Furthermore, it so happens that both the promoter of said concerts and the website from which tickets are sold, and Isabel’s merchandising, also have their tax headquarters in the Canary Islands; So it seems that perhaps it was the businessman who advised Agustín to create a company on the islands to obtain important tax benefits.