On Wednesday 10 November, the European Commission approved a €4.5 billion Italian support package to help businesses and the economy in the context of the Covid-19 pandemic. The scheme was approved under the State aid Temporary Framework.
The €4.5 billion in aid is intended to support businesses particularly affected by the pandemic and by measures to limit the spread of the virus. The limited amounts of aid will take the form of: - direct grants of up to €1 000 for companies registered between 1 January and 31 December 2018, whose business activity started in 2019; - direct grants of up to €150 000 for companies that, following the pandemic, have experienced a deterioration in their economic performance compared to 2019.
The amount of aid per beneficiary will be calculated taking into account any previous support granted by the Italian Revenue Agency (Agenzia delle Entrate) to the company itself or to one of its affiliates. The Commission found that the Italian scheme was in line with the conditions set out in the Temporary Framework.
The Temporary Framework will remain in force until the end of December 2021. In order to ensure legal certainty, before this date the Commission will assess whether it is necessary to extend it. (Original version in French by Lionel Changeur)