close
Share with your friends

EC approves another Maltese support measure

EC approves another Maltese support measure

The EC has approved a Maltese aid scheme to support investments in the production of COVID-relevant products like vaccines, ventilators and PPE.

1000

Also on home.kpmg

The European Commission has approved a Maltese aid scheme, notified thereto, to support investments in the production of products that are relevant to the coronavirus outbreak, including medicines, vaccines, ventilators and personal protective equipment. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April and 8 May 2020.

The scheme will have a total budget of €11.5 million. The support will take the form of direct grants, repayable advances and tax advantages. The scheme is open to all enterprises of all sectors capable of increasing production of coronavirus-relevant products or of diversifying existing production to be able to produce and manufacture such products. The aid will cover a significant share of the investment costs necessary for the creation of new production facilities. Furthermore, under the scheme, investment projects will have to be completed within six months after the date of granting the aid.

Should you have any queries or wish to discuss further, please send an email to covid@kpmg.com.mt.

EC approves another Maltese support measure

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

© 2020 KPMG, a Malta civil partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal