The European Commission, in accordance with EU rules on State aid, approved the reintroduction of the Italian of the International Registry, regime - recalled the Commission announcing today the green light - which aims to encourage shipping companies to register their ships in Europe thus ensuring compliance with social, environmental and environmental standards and higher security standards.

The EU Commission had approved the original Italian regime in 1998 and again in 2004. On 11 June 2020, the Commission had approved an extension of the scheme until the end of 2023. Italy notified the Commission of the reintroduction of the scheme until the end of 2033. Under the scheme, the eligible vessels that register their vessels in the Register International tax on and other benefits, such as exemption from payment social security and welfare contributions for seafarers, a reduction of the tax on ship insurance contracts or a reduction in the tax on the registration of employment contracts work for seafarers. The scheme has a total budget of €5.4 billion and will be in force until 31 December 2033.

The European Commission considered that the regime is necessary is appropriate to achieve the objectives pursued, or strengthening the competitiveness of shipowners and ship operators, support the development of the maritime sector and encourage the registration of ships in the EU/EEA shipping registers. In addition, the Commission considered that the scheme is proportionate, as it limited to the minimum necessary and with limited impact on the competition and trade between Member States.