The PS-Madeira has announced a set of legislative proposals aiming to protect the regional economy from the impacts of the increase in customs tariffs imposed by the United States. The Trump administration’s decision has generated concern among Madeiran businessmen, particularly in the tourism, real estate, and export sectors including Madeira…
Posts published in “Financial Matters”
The Mayor of Funchal confirmed that the municipality was notified to pay four executions worth one million euros for debts to the public company ARM and that if it did not do so, the municipality’s account would be seized, and blocked. “It has not yet been 48 hours since we…
The Council of Ministers has approved the decree-law that eliminates the obligation to report, in the IRS declaration, income not subject to IRS, such as meal allowances, and those subject to withholding taxes, such as interest. The approved diploma, in addition to eliminating the carry-forward of those types of income,…
Portugal fell nine places in the 2024 Corruption Perceptions Index and obtained its worst result ever. The failing was, “particularly driven by the perception of abuse in public office for private benefits,” in cases such as ‘Operation Influencer’. The Transparency International index, published since 2012 and in which Portugal has…
From now on it will be possible to make Social Security payments via bank transfer. This is made possible due to the printed individual IBAN printed on the document. This, says a Social Security Institute (ISS) spokesperson will make the payment process easier and more efficient. “For each payment document…
The deadline for taxpayers to submit income declarations, that are not subject to withholding tax, such as domestic workers, has been extended until the end of February. At issue is the so-called Model 10, whose deadline for delivery is usually the 10th of February, but an order recently published by…
Taxpayers who, in 2024, had capital income, such as interest, and income not subject to tax – daily allowances or meal allowances-, greater than 500 euros will have to declare them to the IRS. This reporting obligation is part of an amendment to the IRS code, introduced by the State…
The President of the Regional Government once again assured reporters this morning, that a set of public contracts “will stop,” including work on the Central and University Hospital of Madeira. Miguel Albuquerque explained to journalists that the holdup is due to the failure to agree on the budget and the…
The Court of Auditors (TdC), in its 2023 External Verification of the Regional Government Treasurer’s Account, indicates that the Regional Government did not fully comply with a recommendation regarding budgetary rules on the use of bank and treasury balances, which had already been left in the previous year’s report. In…
The Court of Auditors has issued its report on the audit of the clearance of financial responsibilities, under the debt settlement agreement between the municipality of São Vicente and the Madeira Electricity Company. In conclusion, the TdC recommends that the municipal bodies of São Vicente, in the settlement of debts,…
The Court of Auditors (TdC) will deliver tomorrow to the President of the Legislative Assembly of Madeira, José Manuel Rodrigues, the opinions on the accounts of the Autonomous Region and the Legislative Assembly of Madeira for 2023. “The ceremony will take place at 3:30 pm in the Assembly Legislative Assembly…
Nickel, a financial payment institution, continues to expand its services and has now arrived in Madeira, specifically in the municipalities of Funchal, Ponta do Sol, and Ribeira Brava. There are, for now, four new points of sale established in local businesses such as tobacconists and stationery stores, which are now…
Covid-19 tests in Madeira cost more than 15 million euros, but the contract programmed for the execution disrespected the principles of competition and transparency, concluded an audit by the Court of Auditors released today. In a statement, the Court of Auditors (TdC) states that the contract for the execution of…
Miguel Albuquerque considered today that the “situations” detected by the Court of Auditors (TdC), in their assessment of the Madeira Promotion Association, were “lapses” not “intentional” and without “gravity.” “The function of the Court of Auditors is to make the legal framework of the issues and, obviously, we will comply…
Data provided by Sociedade Interbancária de Serviços (SIBS), for the Autonomous Region of Madeira, for the 3rd quarter of 2024, show that the amounts related to the two main operations of the SIBS network (withdrawals and purchases through automatic payment terminals – POS), considered as a whole, amounted to 789.8…
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