Editing Madeira (section)

===Madeira International Business Center===
[[File:Funchal mountains view.jpg|thumb|View of Madeiran mountains from Funchal]]
[[File:Canical.jpg|thumb|[[Caniçal]] on the left and Madeira Free Trade (Industrial) Zone on the right]]

{{Main|International Business Centre of Madeira|l1=International Business Center of Madeira}}

The [[International Business Centre of Madeira|Madeira International Business Center]] (MIBC) [[free trade zone]] has led to additional infrastructure, production shops and essential services for small and medium-sized industrial enterprises. MIBC comprises three sectors of investment: the Industrial Free Trade Zone, the International Shipping Register – MAR and International Services. Madeira's tax regime has been approved by the European Commission as legal State Aid and its deadline was extended through 2027. MIBC was created formally in the 1980s as a tool of regional economic policy.{{citation needed|date=February 2022}} It consists of (mainly tax) incentives, granted with the objective of attracting investment into Madeira.

Favorable operational and fiscal conditions were approved by the European Commission under Article 299 of the [[Treaty on European Union]]. The MIBC is integrated in the Portuguese and EU legal systems and is regulated and supervised by Portuguese and EU authorities in a transparent and stable business environment, clearly distinguished from so-called "tax havens" and "offshore jurisdictions". In 2015, the EC authorized a state aid regime for companies incorporated between 2015 and 2020 and extended the regime of tax reductions through 2027. The tax regime is outlined in Article 36°-A of the Portuguese Tax Incentives Statute. Available data demonstrates that this programme aided the local labor market, through the creation of qualified jobs and for professionals who have returned to Madeira; increased productivity; expanded business tourism from the visits of investors and their clients and suppliers, and other sectors such as real estate. Telecommunications and other services benefit from a larger client base. Companies attracted by MIBC represent over 40% of revenue in terms of corporate income tax for the Government of Madeira and nearly 3.000 jobs. Salaries there are above average in comparison with the wages paid in other sectors.<ref>{{cite web |url=http://www.ibc-madeira.com/about_ibc.aspx?ID=51 |title=International Business Centre of Madeira – About IBC |work=ibc-madeira.com |access-date=16 January 2014 |archive-date=17 January 2014 |archive-url=https://web.archive.org/web/20140117073225/http://www.ibc-madeira.com/about_ibc.aspx?ID=51 |url-status=live }}</ref>