Up to €400,000 lost to help businesses affected by the Ukrainian crisis
The Fund for support for companies damaged by the Ukrainian crisis was designed to assist all those small and medium-sized Italian companies that were affected by the ongoing conflict.
The war in Ukraine has generated missing revenues due to the contraction of demand, increased raw material costs and penalties in place and with this measure the Ministry of Economic Development wants to support those small and medium Italian companies that are suffering from it.
- What is the Fund for support for companies damaged by the Ukrainian crisis?
- Who is the Fund for support for companies damaged by the Ukrainian crisis?
- How does the Fund for Support for Business Damaged by the Ukraine Crisis work?
- How to apply for the Support Fund for Businesses Damaged by the Ukraine Crisis?
What is the Fund for support for companies damaged by the Ukrainian crisis?
With the paragraph 5 of the DL 50/2022, also called Decree Ukraine or Energy, the Minister for Economic Development 120 million euros to grant lost contributions to mitigate the negative effects of the Russian-Ukrainian crisis.
Lost-funded contributions can reach up to a maximum of 400 thousand euros.
Who is the Fund for support for companies damaged by the Ukrainian crisis?
All SMEs, other than agricultural ones, with registered offices in Italy and complying with the following requirements:
- at least 20% of the turnover of the last two years is connected to commercial operations in Ukraine, Russia and Belarus;
- in the quarter preceding 18 May 2022, at least 30% of the purchase price of raw materials and semi-finished products was increased, compared to the same period of 2019;
- in the quarter preceding 18 May 2022, at least 30% decreased in turnover compared to the same period of 2019;
How does the Fund for Support for Business Damaged by the Ukraine Crisis work?
The evolving is provided in the form of contribution to lost fund and the amount is calculated by applying a % the difference between the average amount of revenues relating to the last quarter before the date of entry into force of the decree and the amount of the same revenues related to the correspondent quarter of 2019. For the 2020 startups the reference tax period is that 2021.
The percentage is determined as follows:
- 60%, for companies with 2019 revenues not exceeding 5 million;
- 40%, for companies with 2019 revenues between 5 and 50 million
How to apply for the Support Fund for Businesses Damaged by the Ukraine Crisis?
Questions may be submitted on the online platform of Invitalia from the 12.00 of 10 November 2022 until 12.00 of 30 November 2022.