The value of the settlements already remitted by the tax authorities to companies in the Madeira Free Trade Zone (ZFM) identified as having received illegal State aid amounts to 525 million euros, but only a fraction has been returned – 66 million euros.
Recent data from the Tax and Customs Authority (AT) in the recovery of illegal aid, following non-conformities detected by the European Commission, are contained in the opinion of the Court of Auditors on the General State Account (CGE) for 2023, has now been released.
At stake is the recovery of approximately 839 million euros, relating to 302 taxpayers, which gave rise to 1,013 assessments.
According to the figures released, 177 liquidations are still to be issued (worth 273 million euros), to which 44 are still awaiting processing and notification from the targeted companies (worth 32 million euros).
There is also a group of 709 settlement notes already completed in which the taxpayer was notified (in the amount of 525 million euros). Of this total, the opinion says, “assessments in the amount of 515 million euros were issued” for which “taxpayers paid 66 million euros (12.8%).”
By the 29th of May 2024, the AT had issued 492 debt certificates relating to unpaid settlements.
The information contained in the opinion also reveals that of the 839 million euros that the AT was entrusted with recovering, there is a portion of nine million euros, relating to 83 assessments, which “are considered non-recoverable” – which occurred following the granting of the allegations presented by taxpayers during the exercise of the right to a prior hearing.
In December 2020, the European Commission concluded that the Madeira Free Trade Zone (ZFM) regime disrespected state aid rules, as it covered companies that did not contribute to the development of the region, and Portugal should recover the support irregularly provided when the amount exceeded 200 thousand euros.
Samantha Gannon
info at madeira-weekly.com
