The General Court of the European Union (CJEU) has rejected appeals by four companies involved in illegal state aid in the Madeira Free Trade Zone (ZFM), determined by Brussels, supporting the European Commission in its decision of its incompatibility with EU rules. According to a statement from the court, this…
Posts tagged as “Madeira Free Trade Zone”
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…
The President of the board of the IBC-Services of the Commercial and Industrial Association of Funchal-Chamber of Commerce and Industry of Madeira (ACIF-CCIM),
The Judiciary Police (PJ), through the Criminal Investigation Department of Madeira of the Judiciary Police, identified and located a commercial company indicted for the import, export, and distribution of prohibited substances.
"The Regional Government is convinced that the greatest challenge facing Madeira is the challenge of competitiveness.
The Government of Portugal has announced that it will instruct the Tax Authority to "act unilaterally" in the absence of a consensus by the working group charged with preparing the recovery plan for support granted to companies licensed to operate in the Free Trade Zone of Madeira (ZFM).
The parliamentary leader of the CDS, António Lopes da Fonseca, said today that his party "is deeply concerned about the current situation concerning the International Business Centre of Madeira (IBC).
The European Commission concluded last week that the Madeira Free Trade Zone (ZFM) regime violated state aid rules, as it included companies that did not contribute to the development of the region, and in view of this Portugal must recover the support provided.
During the recent Madeira 2020 debate José António Castro, the leader of the 'Mais Porto Santo' movement, said that it is not enough to point out what is missing in Porto Santo in terms of its economy, but we need to discuss what can be done to help the island and its people.