Press Release: State aid: Commission approves regional tax credit scheme for new investments in the Mezzogiorno of Italy

The European Commission authorised, under EC Treaty state aid rules, the single most important Italian regional aid scheme. The scheme, which foresees aid in the form of automatic tax credits, supports initial investments in the assisted regions of South of Italy. Investment projects for which expenses are incurred after 1 January 2007 and before 31st December 2013 will be eligible for aid under the scheme, for which the estimated budget amounts to €4.5 billion for the whole period 2007-2013. The Commission found the scheme to be compatible with the Single Market, as it meets the requirements of the applicable 2007 Regional Aid Guidelines (see IP/05/1653).