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European Commission approves Rent Subsidy and Electricity Bill Schemes

EC approves Rent Subsidy and Electricity Bill Schemes

The EU Commission approved the Maltese Government’s measures to support companies by subsidising part of their rental and electricity costs.

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On 16 July, the European Commission approved the Maltese Government’s measures to support companies by subsidising part of their rental and electricity costs. Such has been approved under the State aid Temporary Framework as extended to date. The aim of the measures is to address the liquidity needs of companies affected by the current crisis and to help them to continue their activities, start investments and maintain employment during and after the COVID-19 outbreak.

Such measures have been announced during the presentation by Government of Malta’s Economic Recovery Plan on 8 June. Businesses classified as Annex A and Annex B on Malta Enterprise’s website that have been granted a wage supplement will be entitled for a one-time grant of up to €2,500 covering their rental cost supported by a valid rent agreement. Similarly, eligible businesses will be entitled to a refund of 50% of their electricity bills for the months of July, August and September, capped at €1,500 per applicant. The amount will not include the payment for the meter. On its website, Malta Enterprise provides that further information, guidelines and applications related to both the Rent Refund Scheme and the Electricity Bill Refund will be made available soon.

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

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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 Maltese civil partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.


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