Italy Update: New non-repayable contributions for retailers

The Sostegni ter decree introduced non-repayable contributions for retail traders. In order to access the new non-repayable contributions, some requirements must be met, economic and otherwise: it is mandatory to fall within certain Ateco codes, to have declared revenues of no more than 2 million euros in 2019, to have a reduction in turnover of at least 30% comparing 2021 with 2019, as well as to have a registered office in Italy. It is also necessary to be registered with the commercial register, not to be the recipient of disqualification sanctions, in voluntary liquidation or with insolvency proceedings with liquidation purposes and not to be already in a situation of economic difficulty in 2019.

By Quorum, Italy, a Transatlantic Law International Affiliated Firm. 

For further information or for any assistance please contact italy@transatlanticlaw.com

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