The CDS-PP Madeira party advocates for a reduction in the general Corporate Income Tax (IRC) rate in the region to 12.6% by 2027.
This proposal follows the anticipated one-percentage-point decrease in the corporate tax rate on the mainland, announced for the upcoming State Budget. Currently, the general IRC rate stands at 19% on the mainland and 13.3% in Madeira, with a reduced rate of 8.75% in the northern municipalities and Porto Santo.
The party believes this tax harmonization would make the archipelago "highly competitive" and one of the European Union territories with the lowest corporate taxation. CDS-Madeira also supports Madeira mirroring the reduction in Personal Income Tax (IRS) rates on labor announced by the Republic's Government, maintaining a 30% reduction across the nine tax brackets.
