Brussels announces in-depth investigation into Madeira Free Zone

By TPN/Lusa, in News · 09-07-2018 11:02:00 · 0 Comments
Brussels announces in-depth investigation into Madeira Free Zone

The European Commission (EC) has announced an in-depth investigation into the tax exemptions the Portuguese authorities granted companies in the Madeira Free Zone (MFZ), as it fears they do not comply with state aid rules.

Brussels said that, “under the scope of monitoring the enforcement of the decisions regarding state aid, the Commission has conducted a preliminary assessment of how Portugal applied the aid regime to the MFZ until it expired at the end of 2014” and, “currently, there are doubts as to whether the Portuguese authorities respected some of the underlying conditions under which the regime was approved by the decisions of 2007 and 2013”, which is why it has begun an in-depth investigation.


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