On 19 March 2021, Italy's Council of Ministers issued a release announcing its approval of a Decree-Law on urgent measures to support business, labor, health, and local services in relation to the COVID-19 emergency.

The main tax-related measure is a non-repayable grant for VAT registered persons carrying out business, art, or professional activities, as well as for non-commercial and third sector entities, without any sectoral limitations or constraints based on economic activities. The grant is limited to subjects who have suffered a loss in revenue of at least 30% between 2019 and 2020, with a revenue cap of EUR 10 million. The grant is equal to a percentage of the loss in revenue as follows:

• 60% for subjects with revenue/fees not exceeding EUR 100,000;
• 50% for subjects with revenue/fees over EUR 100,000 up to 400,000;
• 40% for subjects with revenue/fees over EUR 400,000 up to 1 million;
• 30% for subjects with revenue/fees over EUR 1 million up to 5 million; and
• 20% for subjects with revenue/fees over EUR 5 million up to 10 million.

In any case, the grant amount may not be less the EUR 1,000 for individuals and EUR 2,000 for other subjects, and the grant amount may not exceed EUR 150,000. The grant can be paid by bank transfer directly to the current account of the beneficiary or as a tax credit.

Other support for business includes a fund for winter tourism and an increase in the fund to provide an exemption from social security contributions for the self-employed and professionals. Further, the period of suspension of collection agent activities is extended to 30 April 2021.