Article 4
This Decision is addressed to the Portuguese Republic. Done at Brussels, 15 October 2003. For the Commission Mario Monti Member of the Commission (1) OJ C 253, 22.10.2002, p. 5. (2) See footnote 4. (3) Approved by the Commission on 26 July 2000 (OJ C 266, 16.9.2000, p. 7). (4) Approved by the Commission on 8 September 1999 (OJ C 375, 24.12.1999, p. 5). (5) Article 1(3) of the Annex to the Commission Recommendation of 3 April 1996 concerning the definition of small and medium-sized enterprises (OJ L 107, 30.4.1996) states that: Independent enterprises are those which are not owned as to 25 % or more of the capital or the voting rights by one enterprise, or jointly by several enterprises, falling outside the definition of an SME or a small enterprise, whichever may apply. (6) Commission Regulation (EC) No 69/2001 of 12 January 2001 (OJ L 10, 13.1.2001). (7) The calculation is based on the following: 1. duration of the loan: six years, 2. grace period: two years, 3. interest rate on the loan: 0 %, 4. reference interest rate for Portugal applicable at the time the investment took place: 6,33 %, 5. corporation tax rate currently in force in Portugal: 35,2 %. (8) This is the net aid element of the tax credit as estimated by the Portuguese authorities. (9) [1990] ECR, I-959, at 35. (10) OJ L 193, 29.7.2000, p. 39. (11) Rule 12, Annex I to Regulation (EC) No 1685/2000. (12) Rule 12, point 3, Annex I to Regulation (EC) No 1685/2000. (13) Source: ABIH Nacional - Brazilian Association of the Hotel Industry, "Statistics on the national hotel industry", 22 February 2001. (14) See footnote 17. (15) OJ C 135, 6.6.2002, p. 1. (16) OJ C 74, 10.3.1998, p. 9.