About IBC
About SDM
Trading, Holding & Other Services
e-Business & ICTs
Production, Assembling & Warehousing
Ship Registration
Ship Registration and Shipping Companies
Yacht Registration & Yacht Owning Companies
Promotional Agenda
Madeira's IBC Legislation
Local Entities
Double Taxation Treaties
15-12-2021 29% of Madeira's IBC new companies are high-tech The number of new ICT companies licensed to operate within the framework of the International Bus...
01-09-2021 Employment and tax revenues generated by the IBC boost Madeira's economy ... The most recent data concerning tax revenues and job creation in Madeira clearly demonstrates tha...
26-01-2021 Moving to work in Madeira - How Diogo, André and Pedro did it in 2020... Connecting Software, with headquarters in Vienna, opened its Madeira office three years ago. Out ...
27-10-2020 01 Edu System - Company licensed in the IBC of Madeira invests in the education area... What is the core business of you company? Can you describe your activity? 01 Edu System is an Ed...
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...
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...
Employment and tax revenues generated by the IBC boost Madeira's economy
The most recent data concerning tax revenues and job creation in Madeira clearly demonstrates that the International Business Centre of Madeira (IBCM) is a fundamental tool for the development of the regional economy, particularly during this time of pandemic crisis.
As highlighted by the personal income tax generated by the companies operating within the IBC of Madeira, which increased from 4,7% to 6,6% of the total revenue generated, respectively, in 2019 and 2020, the growth of the employment figures in the IBC reflects that, in spite of the world's pandemic crisis, these companies have shown resilience and ability to continue to contribute to Madeira's economy and to be a relevant source of employment.
According to the official data released by the Madeira Regional Statistics Department, 3.122 direct jobs were created by the companies operating within the framework of the IBC of Madeira in 2019, which represents an increase of 7,8% in relation to 2018.
The contribution of the IBCM on the island's economy is further shown by its impact on the overall tax revenues generated in Madeira.
In fact, the data released by the Regional Tax Authority shows that in 2020 nearly 70% of the corporate tax paid on the island was originated by companies from the IBCM.
Moreover, in a particularly difficult year for the regional economy, especially for the tourism sector, which suffered strongly due to the international pandemic crisis, the IBC of Madeira was able to increase its contribution in terms of the overall tax revenues. In fact, the tax revenues generated by the regional economic activities decreased more than €100M in 2020 whilst the sum of the overall tax revenues generated by the companies operating in the IBC amounted to more than €108M. Such amount represents a contribution of 12,7% of the total tax revenue raised on the island.
E-mail: sdm@sdm.pt
Web Site: www.sdm.pt