In addition, the permanent maintenance of tariff exemptions on the importation of sensitive and ultra-sensitive industrial products for the internal market of the Canaries beyond the transitional period established for the gradual introduction of the CCT has also been requested by Spain.

Whereas, under the sixth Council Directive 77/388/EEC of 17 May 1977 on the harmonisation of the laws of the Member States relating to turnover taxes - common system of value added tax: uniform basis of assessment (4) transactions concerning gold are in principle taxable although, on the basis of the transitional derogation provided for in Article 28(3) in conjunction with point 26 of Annex F to the said Directive, Member States may continue to exempt transactions concerning gold other than gold for industrial use; whereas the application by some Member Stat ...[+++]es of that transitional derogation is the cause of a certain distortion of competition;

Whereas intra-Community acquisitions of a certain value by exempt persons or by non-taxable legal persons and certain intra-Community distance selling and supplies of new means of transport to individuals or exempt or non-taxable bodies should also be taxed, during the transitional period, in the Member States of destination, at those Member States' rates and under their conditions, in so far as such transactions would, in the absence of special provisions, be likely to cause significant distortions of competition between Member States;

'3a. Pending a decision by the Council, which, under Article 3 of Directive 89/465/EEC (*), is to act on the abolition of the transitional derogations provided for in paragraph 3, Spain shall be authorized to exempt the transactions referred to in point 2 of Annex F in respect of services rendered by authors and the transactions referred to in points 23 and 25 of Annex F.

Whereas during the transitional period intra-Community transactions carried out by taxable persons other than exempt taxable persons should be taxed in the Member States of destination, at those Member States' rates and under their conditions;

Exemptions are possible within the territory of a country for certain activities of public interest, insurance and reinsurance transactions, the leasing or letting of immovable property (with the exception of the provision of accommodation, the letting of premises and sites for parking vehicles, lettings of permanently installed equipment and machinery, hire of safes), supplies of goods used wholly for an exempted activity, and many other activities such as the granting and negotiation of credit, transactions and negotiations concerning deposit funds, payments, transfers, transactions and negotiations concerning currency, and transaction ...[+++]s and negotiations concerning shares, or interests in companies or associations.