site.btaCabinet Approves Bill Amending Investment Promotion Act

At its meeting on Wednesday, the Council of Ministers approved a bill to amend and supplement the Investment Promotion Act. The draft amendments transpose changes in Commission Regulation (EU) No 651/2014 of June 17, 2014 Declaring Certain Categories of Aid Compatible with the Internal Market in application of Articles 107 and 108 of the Treaty Text with EEA Relevance.

The introduction of these amendments in the Investment Promotion Act and, subsequently, in the Rules of Application of the Investment Promotion Act will allow the continued application of financial incentives for the investment projects certified under the Act. The amendments also envisage a distinction between the financial measures in light of the applicability of the Regulation and the European Commission's Notice on the Notion of State Aid as Referred to in Article 107(1) of the Treaty on the Functioning of the European Union (2016/С 262/01).