Italian Prime Minister Giuseppe Conte on Wednesday presented a new package of measures worth €55 billion to tackle the economic impact of the coronavirus pandemic.

“We worked on this decree with the awareness of the difficulties that the country is facing,” Conte said at a press conference.

Advertisement

The new decree temporarily freezes corporate tax for all companies with an annual turnover below €25o million and grants non-repayable aid of up to €40,000 to small businesses.

The package also allows the government to intervene and recapitalize struggling companies in line with new EU state aid rules

Read More At Article Source | Article Attribution