The Rent and Electricity Refund Scheme (the ‘Scheme’) aims to help undertakings who are benefitting from the COVID Wage Supplement and listed under the NACE code categories - Annex A, B and C updated on 1st July 2020. The Scheme aims to support businesses’ operating expenditure.

The costs that can be claimed for rent and electricity are capped at a maximum of Euro 7,500. The amount varies depending on the number of employees who received the COVID wage supplement.

As per the Rent and Electricity Refund Incentive Guidelines:

“This support is provided under the conditions established in Section 3.1 of the Temporary Framework. The aid shall not exceed the gross figure of €800,000 per undertaking. Aid granted to undertakings in the fishery and aquaculture sector1 shall not exceed €120,000 per undertaking, whereas that granted to undertakings active in the primary production of agricultural products2 shall not exceed €100,000 per undertaking.”

Eligible undertakings may apply for the Scheme through an online application. The duration of the Scheme, as per the Rent and Electricity Refund Incentive Guidelines, starts from date of approval until 31st December 2020. 

“Aid may be granted under the measure as from the date of its approval until no later than 31st December 2020.”

Rent Refund

Eligible undertakings may claim rental costs on up to five business premises, rented out from third parties. Each premises upon which rental costs would be claimed must be rented out specifically for carrying out economic activities eligible under Annex A, B and C.

Rental costs are eligible for refund if the related rental agreement was newly signed before 9th March 2020. Renewals of rental agreement signed after 9th March 2020 shall be considered as eligible if the rental agreement was active prior to 9th March 2020.Refunds shall be granted as per the table below:

Employees receiving wage supplement

Eligible rental agreements

Maximum Support

1 to 9

1

€ 2,500

10 to 19

2

€ 4,000

20 to 29

3

€ 5,500

30 to 39

4

€ 7,000

40 and over

5

€ 7,500
 

Electricity Refund

Eligible undertakings may claim electricity costs incurred for the months of July, August and September 2020. Business who have more than one electrical account may also claim for multiple accounts depending on the number of employees receiving the COVID wage supplement.

The refund covers 50% of the costs capped as per the table below:

Employees receiving wage supplement

Number of distinct electricity accounts

Maximum Support

1 to 9

1

€ 1,500

10 to 19

2

€ 3,000

20 to 29

3

€ 4,500

30 to 39

4

€ 6,000

40 and over

5

€ 7,500
 

 

For more information, please contact:

Vladimiro Comodini – Partner ([email protected]).

Patrick Debattista – Senior Manager ([email protected]).