Today is the day when we all feel proud of Portugal.
It is the day when we feel proud of our roots in Madeira, the land that is the birthplace of the best footballer in the world and where we have chosen to invest and grow.
Whether or not you like football, it is impossible not to feel proud of a country that has so often known how to be much better than just a small rectangle at the far end of Europe. As we see the festivities of the Portuguese communities around the world, it is obvious that today we are as big as the dream that guides us and the ambition that drives us to always go further.
Today, more than ever, we are Portugal.
In addition to the benefits provided for within the scope of the International Business Centre of Madeira, the main tool for attracting investment in the region, Madeira has just approved an Investment Tax Code that establishes a series of tax benefits for projects with a value equal to or greater than 1.5 million euros on the island of Madeira and 500,000 euros for projects executed on the island of Porto Santo.
The benefits shall be granted until 31 December 2020 for a period of ten years and they involve mainly corporate income tax deductions and exemptions or reductions in municipal property tax, municipal real estate transfer tax and stamp duty.
The Investment Tax Code directs investment aid to the extractive and manufacturing industries, tourism, IT activities and services, agriculture, aquaculture, fisheries, food and livestock farming, forestry, research and development and high intensity technology.
Also benefitting are projects related to information technologies, audiovisual and multimedia production, the environment, energy and telecommunications, as well as investment in education, human health activities, social support, activities related to shared services centres, and administrative services that support management and businesses.