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The Government of Madeira will collaborate with "all the clarifications" that are requested by the European Commission, as part of the investigation into the tax exemptions granted to companies in the free zone, said Friday the head of the Executive in Funchal.
It is a situation of normality, which we are confronted with great tranquility, because the International Center for Madeira Affairs has always acted transparently and in accordance with the standards imposed by the European legislative and legislative framework. ", said Miguel Albuquerque,
The European Commission announced Friday that it had begun an in-depth investigation into the tax exemptions granted by the Portuguese authorities to companies in the Madeira Free Zone, for they are not State aid rules.
Brussels also wants to know if a state was created in Madeira created employment and if the profit of the recipient companies was actually carried out in the region.
Miguel Albuquerque assured that the executive will collaborate with "all the clarifications that are requested "and stressed that he works" in consonance with the Portuguese State "in the defense of national interests and the free-trade zone of Madeira
The President of the regional government stresses that this action is inserted in ", indicates that state aid schemes as well as community funds are always monitored and controlled.
One of the great advantages of the International Business Center, besides the companies that pay taxes, is to have credibility, credibility in the capitals moved and investments that are made ", he said, noting that in 2016 the center generated 199 million Following the investigation opened by the European Commission, the Foreign Ministry issued a statement in which he stated that "the Portuguese Government reiterates its total availability to" and notes that "the decision to open this procedure will give the Government and other interested parties the opportunity to comment, without necessarily indicating a negative decision.
The Madeira Development Company, concessionaire of the International Business Center (CINM), considered that the decision to open a formal investigation procedure was "normal" and emphasized that it concerned the "regime III" tax benefits and not the "IV regime currently in force"
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