The European Commission has approved the changes to the existing Italian regime to support businesses active in Sardinia and other regions of Southern Italy.
The aid consists of a 30% reduction in social contributions owed by private employers active on the island and in Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia and Sicily, affected by the socio-economic consequences resulting from Russia's war against 'Ukraine.
Italy has notified several changes to the existing regime: a budget increase of 2.9 billion euros, bringing the overall budget from 11.4 billion euros to 14.3 billion euros.
With this green light, the reduction in the social security contribution has been extended until 31 December 2024.
Labor Minister Marina Calderone is satisfied: «The extension of the Southern Contribution Relief is a result of the government for which I thank the Minister for European Affairs Raffaele Fitto, and in particular the executive vice president of the EU Commission Margrethe Vestager. This decision – adds Calderone – is the recognition of the fact that decontribution is now necessary to continue along the path undertaken to reduce territorial gaps. These additional six months are fundamental to allow us to develop an organic review of the Southern Contribution Relief, more oriented towards investments".
(Unioneonline)
