Culture, EU Commission supports companies in the sector

A total of 10 million euros will be provided to support theatrical and entertainment companies affected by the coronavirus pandemic. The European Commission has recently approved an Italian scheme of 10 million euros, specifically designed to help the cultural sector. Under the scheme, the aid will take the form of a tax credit. The measure will be open to companies that experienced a drop in turnover in 2020 compared to 2019, and will be an instrument to alleviate the sudden liquidity shortages that eligible beneficiaries face due to the coronavirus pandemic and the restrictive measures that the Italian Government had to implement to limit the spread of the virus.