European Commission approves EUR 5.4 billion Italian aid scheme to boost maritime transport
The Commission has approved the re-introduction of Italy’s “International Registry” scheme to support the maritime transport sector. The scheme, which runs until 31 December 2033 and has a total budget of EUR 5.4 billion, provides tax benefits and social contribution exemptions to eligible shipping companies that register their vessels in the Italian International Registry.
The aim of the scheme is to promote the registration of ships under EU/EEA flags, thereby contributing to the application of higher social, environmental and safety standards. The Commission assessed the measure under the Guidelines on State aid to maritime transport and concluded that it is necessary, appropriate and proportionate to support the competitiveness of the sector, with a limited impact on competition and trade in the internal market.
The non-confidential version of the decision will be published under case number SA.111368.
Read the full press release here.