International Business Centre of Madeira information
Set of tax benefits for the Autonomous Region of Madeira
Decree-Law n. 500/80
Government of Portugal
Long title
Authorizes the creation of a free zone in the Autonomous Region of Madeira
Citation
1980, c. 3493
Territorial extent
Autonomous Region of Madeira
Enacted
13 Augusto 1980
Assented to
11 October 1980
Signed by
António Ramalho Eanes
Commenced
21 October 1980
Administered by
European Commission Ministry of Finance Regional Government of Madeira Portuguese Tax and Customs Authority SDM - Sociedade de Desenvolvimento da Madeira, S.A.
Amends
Implementing Decree n. 53/82 Decree-Law n. 165/86 Regional Implementing Decree n. 21/87/M Decree-Law n. 352-A/88 Decree-Law n. 234/88 Decree-Law n. 96/89 Ministral Order n. 715/89 Ministral Order n. 134/92 Decree-Law n. 215/89 Ministral Order n. 135/94 Decree-Law n. 149/94 Decree-Law 212/94 Decree-Law n. 250/97 Ministral Order n. 222/99 Decree-Law n. 192/2003 Ministral Order n. 4/2010 Law n. 54-B/2011 Law n. 20/2012 Law n. 83/2013 Law n. 83-C/2013 Law n. 75-A/2014 Law n. 64/2015 Law n. 21/2021
Related legislation
Corporate Income Tax Code Municipal Property Tax Code Municipal Property Transfer Tax Code Stamp Duty Tax Code Tax Benefits Statutes
Summary
Regulates the Madeira Free Trade Zone Tax Regime.
Keywords
State Aid
Status: In force
The International Business Center of Madeira (IBCM) or Madeira International Business Centre (MIBC), formally known as the Madeira Free Trade Zone, is a set of tax benefits authorised by Decree-Law 500/80 in 1980, legislated[1][2] in 1986, and amended throughout the years by the Portuguese government to favor the Autonomous Region of Madeira. Its objectives are to attract foreign investment to the region and internationalise Portuguese companies by allowing them to benefit one of the lowest corporate taxation rates in Europe and in the OECD member countries.[3][4]
Since 1987, the MIBC has been managed and promoted by a private company, Sociedade de Desenvolvimento da Madeira S.A. (SDM), in which the Regional Government of Madeira currently holds of 48,86% the shares. The other main shareholder is Pestana Group, holding 51,14% of the shares.[5] As of January 2020, the Vice-Presidency of the Madeira Regional Government announced its intention of acquiring 51% of the shares of SDM.[6]
The International Shipping Registry of Madeira (locally known as MAR[7] or RIN-MAR[8]), created by the Portuguese government to develop its blue economy, is associated strongly with the MIBC. As one of Europe's largest[9] ship and yacht registries, MAR accepts the registration of all types of commercial vehicles. In 2016, MAR had a total of 516 registered vessels. The registry offers benefits to shipping companies and ships, oil rigs and yachts, including a mortgage system and access to European continental and island cabotage.[10][11]
^"Lei 9/86, 1986-04-30". Diário da República Eletrónico (in Portuguese). Retrieved 2019-02-15.
^"Decreto-Lei 165/86, 1986-06-26". Diário da República Eletrónico (in Portuguese). Retrieved 2019-02-15.
^"Madeira International Business Center - MCS". mcs.pt. Retrieved 2020-03-18.
^Sousa, Jorge Freitas. "Paulo Prada presidirá à Sociedade de Desenvolvimento da Madeira". www.dnoticias.pt (in European Portuguese). Retrieved 2020-02-22.
^Orlando Drumond. "GR espera concretizar aquisição de 51% do capital da SDM "o mais rapidamente possível"". www.dnoticias.pt (in European Portuguese). Retrieved 2020-02-22.
^"Ship Registration and Shipping Companies". www.ibc-madeira.com. Retrieved 2021-02-05.
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