- within Corporate/Commercial Law topic(s)
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.
Originally published by MAMOTCV, April 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
