The Portuguese Tax Authority has demanded that three hundred companies, operating in the Madeira Free Trade Zone, will have to return a total of one billion euros in aid, that the tax authorities now believe was granted illegally.
Tax demands are now being issued and backdated to 2007. Closed companies will be targeted first, with the mainland Government stating that the authorities will ‘go all the way’ to get the money back!
info at madeira-wekly.com
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