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COVID-19 State Aid to be Prolonged Legal Updates

COVID-19 State Aid to be Prolonged

As a result of the unprecedented circumstances we are currently facing, a number of measures were adopted to ease the challenges that various businesses are facing. In this regard, the European Commission adopted the State aid Temporary Framework (the "Framework") on 19th March, 2020, which has subsequently been amended a number of times to reflect the ever-changing nature of how the coronavirus pandemic is affecting the economy. This Framework details the conditions under which State aid would be permissible under Article 107(3)(b) of the Treaty on the Functioning of the European Union with a view to seeking to ensure the…
MamoTCV Advocates
19th October 2020
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Undertakings with Links to Tax Havens not to Receive State aid Antitrust, Competition and TradeLegal Updates

Undertakings with Links to Tax Havens not to Receive State aid

The European Commission ('Commission') has issued a recommendation to Member States that undertakings with links to tax havens (see list) and/or undertakings that have been convicted of serious financial crimes should not be beneficiaries of any state aid.The aim behind this recommendation is to avoid the misuse of public funds and to strengthen safeguards against tax abuse and financial crime throughout the Union. Nevertheless, it ought to be noted that the recommendation does not absolutely prohibit every undertaking with a link to a listed non-cooperative jurisdiction from receiving State aid. Member States are to make known to the Commission the…
MamoTCV Advocates
16th July 2020
Government Issues an Updated Wage Supplement Scheme COVID19 MeasuresEmployment and Industrial RelationsLegal Updates

Government Issues an Updated Wage Supplement Scheme

On Monday 8th June 2020, the Maltese Government announced another financial aid package aimed at economic regeneration. Amongst the numerous measures put in place to assist businesses in recovering from the impact caused by the COVID-19 pandemic, the Government announced an updated Wage Supplement Scheme which is to take effect from July 2020 up until September 2020.In terms of the said updated Wage Supplement Scheme, those businesses which operate in the areas of tourist accommodation, air transport, event organization, travel agencies and language schools will remain eligible to benefit from an entitlement of €800 for each worker employed on a…
MamoTCV Advocates
15th June 2020
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Commission approves Malta’s state aid scheme to support investments in the production of coronavirus-relevant products COVID19 MeasuresLegal Updates

Commission approves Malta’s state aid scheme to support investments in the production of coronavirus-relevant products

On 12 May 2020, the European Commission approved an €11.5 million state aid scheme to support investments in the production of coronavirus-related products such as vaccines, personal protective equipment, and ventilators. Undertakings operating in sectors related to the production or the diversifying of products related to the coronavirus outbreak may benefit from this scheme through direct grants, repayable advances, and tax advantages. However, beneficiaries must complete investments projects in this regard within six months after receiving the aid.The scheme was approved under the State aid Temporary Framework that was put into effect on 19 March 2020. Disclaimer This document does…
MamoTCV Advocates
19th May 2020
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MCCAA Launches Consultation on Proposed Amendments to Consumer Affairs Act Legal UpdatesNews

MCCAA Launches Consultation on Proposed Amendments to Consumer Affairs Act

On 22 April 2020, the Malta Competition and Consumer Affairs Authority (the "MCCAA") published a consultation regarding a Bill to amend the Consumer Affairs Act (Chapter 378 of the laws of Malta) and other Laws, and to make ancillary and consequential provisions thereto. The proposed Bill aims to implement Regulation (EU) 2017/2394 on cooperation between national authorities responsible for the enforcement of consumer protection laws and repealing Regulation (EC) No 2006/2004, which lists the minimum investigation and enforcement powers of the competent authorities of the Member States. The consultation is open for feedback until 12 May 2020, and anyone who…
MamoTCV Advocates
28th April 2020
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Malta’s Employment Aid Scheme Approved Antitrust, Competition and TradeCOVID19 MeasuresLegal Updates

Malta’s Employment Aid Scheme Approved

On 24 April 2020, the European Commission approved Malta's €215 million wage subsidies scheme, which aims to prevent unemployment and to support undertakings that operate in sectors that have been greatly affected by the current outbreak.The notified aid comprises a scheme to finance wage costs of employers that would have otherwise had to lay off their employees as a result of COVID-19. Any undertaking, including self-employed individuals, hit hard by the pandemic may benefit under this scheme. Beneficiaries will receive aid that is proportional to their salary, which is capped at €800. The scheme was approved under the State Aid…
MamoTCV Advocates
28th April 2020