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Newsletter | Articles EU Approves New Regime for Madeira’s Free Trade Zone On June 26, the European Commission approved the continuation of conditions of the Free Trade Zone (FTZ) up to the year 2020. FTZ companies may work in trade, industrial production, non-financial services and use the MAR ship registry (The International Shipping Register of Madeira). Companies created since 2003 receive substantial tax breaks. Indeed, they pay only 3 per cent taxes until 2009, 4 per cent until 2012 and 5 per cent until 2020. Depending on the number of jobs created, these benefits can result in tax relief of between €2m and €15m. For further information contact our ILS Portugal manager Paulo Réfega.