The General Intervention of the State Administration (IGAE) has issued an ‘opinion with reservations’ regarding the financial statements of the Port Authority of Las Palmas. The technical report, which Canarymaritime has accessed, states that the entity ‘collects fees for assets that have not been recorded on the balance sheet, despite being part of the public domain’, an accounting omission that undervalues its net asset by 13.97 million euros. This distortion is due to the application of discounts to five large operators who carry out private heavy infrastructure works in exchange for reduced taxes, simultaneously allowing ‘these fees to be diminished because the aforementioned assets have been funded by the concessionaire’, without reflecting these rights and obligations in the official books. The accounting distortion identified by the state intervention translates into a severe financial impact that undervalues the total port asset by 13.97 million euros due to port infrastructures hidden from the official balance. This concessionary discrepancy drags a direct impact of 2.91 million euros in prior years’ results not correctly declared, along with a deviation of 451,000 euros of distortion in the profit and loss account of the last annual period. Finally, auditors demand regularization of an item of 10.15 million euros that ‘should be shown in the liabilities and transferred to results during the bonified concession period’, also warning that ‘similar facts have already been reported in previous years’. The official swallows The rigidity of the state audit also affects the lack of transparency of the port in reflecting its tax advantages to the Tax Agency. The IGAE qualifies the information provided by the presidency of Beatriz Calzada in note 19 of the Memo regarding the activation of tax credits for pending deductions in Corporate Tax as ‘insufficient’, as ‘the nature of the evidence used for its recognition is not specified nor, if applicable, the tax planning’. The supervisory body highlights that the port management has avoided detailing these control plans, incurring a lack of breakdown in which ‘similar facts have already been reported in previous years’ by inspection teams. The opinion emphasizes that these internal control deficiencies compromise the accuracy of the financial statements of the public entity. Despite the discrepancies, the territorial auditor of Las Palmas signed the document validating that the accounts express the ‘true image of the assets and financial situation of the entity’, maintaining confidence in the ‘entity’s ability to continue as an operating company’. The reservations, however, compel the corporation to reformulate its asset recognition criteria if it wishes to avoid the persistence of these omissions distorting the economic decisions of users of its logistics terminals.
© 2026 canarymaritime