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Italy's EUR5.4 billion aid plan for maritime transport wins EU nod

( May 7, 2025, 10:36 GMT | Official Statement) -- MLex Summary: Italy has secured European Commission approval for its re-activated support program worth 5.4 billion euros meant to encourage shipping companies to register their ships in Europe, to ensure higher social, environmental and safety standards. Under the measure, eligible shipping companies that register their vessels in the International Registry, are granted a corporate tax reduction, next to other benefits, such as an exemption from paying social security and welfare contributions for seafarers. The program, originally approved in 1998, will now run until the end of 2033, the state aid regulator said today. Statement follows. ...

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