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Rogério Fernandes Ferreira defends the actual tax regime in Madeira

5-04-2019

The former Secretary of State for Tax Affairs said that the level of development in Madeira could justify this actual special tax regime, which will also benefit Portugal.

The former Secretary of State for Tax Affairs Rogério Fernandes Ferreira have defended the specialized tax regime for Madeira, similar to the existing one, adding also that this decision is not difficult to justify, in the juridical point of view, during his presentation at the Fórum Económico do Funchal which is taking place at Teatro Municipal Baltazar Dias.

“Madeira does justify having a specialized tax regime, bearing in mind its’ ultra-periphery location”, said Rogério Fernandes Ferreira, at the Fórum Económico do Funchal.

Madeira may have a tax regime, authorized by the European Commission, similar to the one existing actually of the Free Zone and International Business Centre, even if it is not able to have any special tax regime that is more generalized. This tax regime, if existed, should be also authorized by the European Commission and, certainly, in that exact case asked by someone from the public of the conference, would not be authorized, precisely because it is being considered concerning State Aid. This regime, as well as the one more general, should only be allowed if the transfers from continent could stop – which is also not possible, due to economic and financial reasons.