The EU has approved a €10 million scheme to support companies active in the theatre and live performance sector affected by the coronavirus outbreak.
The scheme was approved under the Temporary Framework. Under the scheme, the aid will take the form of a tax credit. The measure will be open to companies that suffered a decline in turnover over 2020 compared to 2019.
The purpose of the EU measure is to mitigate the sudden liquidity shortages that eligible beneficiaries are facing due to the coronavirus outbreak and the restrictive measures that the Italian government had to implement to limit the spread of the virus. The EU found that the Italian scheme is in line with the conditions set out in the Temporary Framework.
On this basis, the EU approved the measure under EU State aid rules. More information on the Temporary Framework and other actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here. The non-confidential version of the decision will be made available under the case number SA.64385 in the State Aid register on the Commission’s competition website once any confidentiality issues have been resolved.
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