ANNOUNCED AS TEMPORARYNo
State aid, nes
On 21 May 2014, the European Commission announced in a press release that it had loosened the rules for state aid in the European Union.
One of the key changes involved scrapping the notification requirement to the Commission and declaring the aid compatible with the common market for "aid for local, broadband, research and energy infrastructures, innovation clusters, regional urban development funds, culture and heritage conservation, audio-visual works, sports and recreational infrastructures and aid to make good damage caused by certain natural disasters".
The press release also mentions increased exemption thresholds but does not specify them in the communication.
Prior to this amendment, approximately 60% of aid measures and 30% of the aid amount was exempted from the notification requirement. According to the Commission, the new provisions will allow 75% of the measures and two thirds of the aid amount within the European Union to be exempted from the obligation to notify the Commission.
The regulation came into force on 1 July 2014.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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