Commission approves €31.9 billion Italian scheme to support companies affected by coronavirus outbreak
The scheme was approved under the State aid Temporary Framework. The scheme will be open to all companies, irrespective of their size and of the sector where they operate (with the exception of the financial sector).
Under the scheme, limited amounts of aid will take the form of tax exemptions and reductions; tax credits; and direct grants.
Given that most of the aid will be automatically granted and the aid ceilings will apply not only to the direct beneficiary but also to its affiliates, eligible beneficiaries will have to indicate in an ex ante self-declaration the amount of limited amounts of aid and support for uncovered fixed costs applied for.
The Commission found that the Italian scheme is in line with the conditions set out in the Temporary Framework. In particular:
• When it comes to limited amounts of aid, the aid
- will not exceed €225,000 per company active in the primary production sector of agricultural products, €270,000 per company active in the fisheries and aquaculture sector and €1.8 million per company active in all the other sectors; and
- will be granted no later than 31 December 2021.
• When it comes to support for uncovered fixed costs, the aid
- will not exceed the overall amount of €10 million per company;
- will cover uncovered fixed costs incurred during a period comprised between March 2020 and December 2021;
- will be granted only to companies that were not considered to be in difficulty already on 31 December 2019, with the exception of micro and small companies that are eligible even if already in difficulty; and
- will be granted no later than 31 December 2021. ■