Latest News

Previous Next
  • 1
  • 2
  • 3
09-09-2020 European Commission prolongs Madeira's IBC Regime until 2023 The European Commission has recently announced that several State Aid regimes, some of which woul...

Read more
16-03-2020 Information about SDM's Services during the national alert state... Having in view the prevention measures resulting from infection by “Convid-19” and in accorda...

Read more
18-11-2019 SDM promoted Madeira's IBC at the Web Summit... The number of high-tech companies (ICT’s) operating within the framework of the International B...

Read more
25-10-2019 MAR now accepting electronic certificates A new digital system allowing for the issuing of electronic certificates for crew and vessels......

Read more
09-10-2019 MAR in the top 15 shipping registers of the world... “The International Shipping Register of Madeira (MAR) achieved a new level of international......

Read more
25-09-2019 An IT company in Madeira innovates on the Internet of Things... “Originally, we came to Madeira because it is a wonderful place to live and didn’t have big p...

Read more

European Commission prolongs Madeira's IBC Regime until 2023


The European Commission has recently announced that several State Aid regimes, some of which would otherwise expire at the end of 2020, will be extended with a view of mitigating the negative financial and economic impacts of COVID-19.

Amongst these are the General Block Exemption Regulation (GBER) in which the IBC of Madeira is included and which has been extended until the end of 2023.

This is on the basis that the Commission has concluded that in such turbulent times it is easier to extend the current law rather than incur the disruption of potentially significant changes at the end of this year, when many exemptions were otherwise due to expire.

According to the EC, this is "In order to provide predictability and legal certainty, whilst preparing for a possible future update of the State aid rules (...)".

The extension of the preferential tax regime of the IBC of Madeira must now be reflected in the internal Portuguese legislation, namely through the amendment of the Statute of Fiscal Benefits by the Portuguese Government.

 

 

 

FaLang translation system by Faboba