MIGUEL ALBUQUERQUE SAYS HE WILL NOT LOWER IVA IN MADEIRA

Tobi Hughes·
Madeira News

The president of the Regional Government said this afternoon that he will not lower the IVA in Madeira.

Miguel Albuquerque, who this afternoon is in Câmara de Lobos, at the presentation of a sculpture in the Ilhéu, said on the sidelines of this event that the Region had already reduced 49 million euros in income taxes (IRC, IRS and Surcharge) and that the tax on consumption has no repercussions on the consumer.

Giving the example of IVA reduction in catering, the regional executive president says that whoever went to a restaurant after this reduction, does not see their bill any lower. 

Albuquerque argues that the progressive reduction of taxes that have an effect on people’s income is more reasonable.

From Jornal Madeira

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Tobi Hughes

5 Responses

  1. I am a frequent visitor to Madeira, often 3 times a year for the last 15 years. I am currently here for 6 weeks. Something has always puzzled me.

    Why does there seem little control on the over development of hotels a apartments ?

    My understanding is that the mega devopment above the Lido currently will be apartments which are surely not needed. Even if sold these apartments will often be rented on AirBnB and the like putting more competition to the hotel sector.

    Surely even in a non Covid world, if there will ever be one, there cannot be enough tourists to go round

    1. Yes they are going to be Savoy apartments, like the Savoy Residence down in funchal opposite the market, Funchal has become one big concrete jungle now, and it doesn’t seem to be slowing down.

  2. Last year in the UK the Chancellor reduced the Vat on Beer sold in restaurants and bars to the same level as the Super Markets who had always paid less, the idea being they should pass this on to the consumer, encouraging trade and busy pubs. What happened ? All the pubs except one, Witherspoons, kept their prices the same and the pubs remained, and still do empty.

  3. Come on guys, how much actually finishes up in the government coffers, like a lot of employees paid national insurance and other taxes its collected and not handed over, tighten that and that up and then IVA and other taxes can be lowered or social needs addressed.

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