Establishing Free Zones for regional development
... companies operating under this regime include the possibility of not paying taxes on interest payments under certain conditions and tax credits for R&D expenses of up to €1.5 million. For non-Portuguese companies that establish in the region, the corporate tax rate does not exceed 5%. To be eligible ...
... companies operating under this regime include the possibility of not paying taxes on interest payments under certain conditions and tax credits for R&D expenses of up to €1.5 million. For non-Portuguese companies that establish in the region, the corporate tax rate does not exceed 5%. To be eligible ...
Vigo Free Trade Zone Consortium
Vigo Free Trade Consortium is a public institution that has been working since 1947 to encourage international trade and economic development in southern Galicia. From its logistical area, located in the port of Vigo, the consortium oversees a free trade zone with all of its related importation and exportation advantages. As an economic development agency, not only is the consortium the main developer of business parks in its area of influence, but it also provides companies with a whole range of services including: finance, via the capital risk company Vigo Activo; support for entrepreneurs, via business initiative centres and collaboration with the University of Vigo in the form of seed funding; plus financial information required for decision making, via the Ardan business information service. Some 350 companies currently occupy the different parks developed by the Consortium. In 2010 the Free Trade Zone parks network generated 26.57% of the total wealth of the Vigo Metropolitan Area and 25.56% of all employment in the region. The consortium is currently involved in extending the almost 5 million square metres of land offered and managed in the business parks of Balaídos, Bouzas, A Granxa, Parque Tecnolóxico e Loxístico (PTL) and Porto do Molle, via the new Salvaterra-As Neves Logistic and Industrial Platform (PLISAN) and a new Business park in Vigo. The consortium is formed by entities such as Vigo City Council, Pontevedra Provincial Council, the Chamber of Commerce, the Harbour Authority and the Spanish State; with the Spanish Cabinet responsible for appointing the Special State Representative proposed by the Department of the Treasury. The current State Representative, Teresa Pedrosa, presides over the monthly meetings of the Executive Committee, the body responsible for the management, administration and running of this public institution. The Vigo Mayor’s Office is responsible for the chairmanship of the Consortium.