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 Temporary Framework that was first adopted by the European Commission on 19 March 2020.
|
Disclaimer |
|
This document does not purport to give legal, financial or tax advice. Should you require further information or legal assistance, please do not hesitate to contact info@mamotcv.com |