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…
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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 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.