Urgent measures to counter economic effects of the Ukraine crisis

In March 2022, the Italian government enacted urgent measures to counter the economic effects of the Ukraine crisis. Additionally, the Act provides funding for the decarbonisation of the ILVA steel production cycle at the Taranto steel plant. The urgent measures include:

1. Concerning energy costs:
(i) tax credits for energy-intensive companies already in force increased from 20% to 25% for electricity and from 15% to 20% for natural gas,
(ii) an extension of the so-called "bonus social energy and gas" for April 2022-December 2022.

2. Concerning fuel costs:
(i) reduction of excise rates on fuels of EUR 0.305/litre when including VAT,
(ii) petrol vouchers up to EUR 200 tax-free for 2022, sold free of charge by private companies to employees, and
(iii) fuel tax credits for agricultural and fishing companies.

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