The Madeira Development Society (SDM) said on Monday that the global agreement on the global taxation of multinational companies reaching 130 countries should not have an impact on the Madeira free trade zone.

“If this agreement is signed globally, it is not expected to have an impact on Madeira’s free trade,” he said.

Organization for Economic Cooperation and Development (OECD) and the G20 (Global Agreement between the 19 largest economies in the world) and the European Union) “Aims to reach the 100 largest multinational companies in the world”.

In a statement issued on Monday, SDM said: “None of these companies [100 das maiores multinacionais a nível mundial] He is licensed to operate in the free trade zone in Madeira. ” It is headquartered in countries such as the Netherlands, Luxembourg and Ireland, both inside and outside the European Union.

The management company of the Free Trade Zone in Madeira has a new board of directors

Whether any review at this level is developed within the national framework or in discussions with the European Commission for Future Governments of the Free Trade Zone in Madeira, SDM hopes that this will allow the conditions to continue to create its competitiveness and attractiveness. Encourage investment in the region, diversification of the local economy, job creation, and seizure of tax revenue without the Z FM regime, reads the same note.

The SDM said in a statement that “the agreement on the operation of the European Union protects the governance and regulation of Madeira’s free trade zone or Madeira, the center of international business.” SDM was created by public-private investors in 1984 and has been exempted since 1987. Madeira Free Trade Zone became a fully public company by January 1, 2021. The SDM is responsible for the International Business Center, the International Shipping Registry and the Industrial Free Trade Zone.