Subsidiaries

Travelucion S.L., Canary Islands, Spain

Travelucion S.L., Canary Islands, Spain

Travelucion S.L. is a wholly owned subsidiary of RevoluGROUP Canada and is domiciled in Canary Islands. The Canary Islands were chosen as the base for Travelucion for several economically fundamental reasons. The Canary Islands, as a province of Spain, are part of the European Union, however, Canary Island based companies are exempt from European VAT (Value added tax) obligations, which in some member states exceeds 25%. Cross border taxes are levied at source; therefore, the Canary Islands are one of only two jurisdictions from which products and services can be sold to citizens within the European Union, without the addition of VAT. This provides Travelucion with a huge pricing advantage over Online Travel Agents (OTA) domiciled in other EU member states or high sales tax jurisdictions worldwide, thus lowering prices and augmenting the company’s competitiveness. A tax-based price disparity of up-to 25% is vast in the online travel realm. Since tourism is the islands main source of revenue, local laws impose zero sales tax on sales carried out with consumers residing outside of the islands, consequently, the sale of travel services through Travelucion to residents outside the Islands are essentially tax free. Furthermore, the European Union has some of the most stringent travel agent licensing and bonding laws in the world, providing consumers with bonded protection of up to 1 million Euros per traveler. Travelucion is a licensed and bonded European, Amadeus GDS, IATA Accredited (OTA) Online Travel Agent, operating under European Law, providing the utmost worldwide protection for consumers, while at the same time benefiting from its geographic location, local tax regimes and Inter-European exemptions on VAT. Travelucion manages the www.RevoluVIP.com travel platform and websites selling travel to +130 countries.

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