EU Relaxes Rules More on Handouts for Virus Tax Relief (1)

The EU has upped the limit for how much member states can give in direct financial aid—including forgoing taxes—to help companies hit by the new coronavirus outbreak.

The EU had announced on March 17 that it would relax rules limiting government handouts to businesses, freeing up member nations to give as much as 500,000 euros ($537,000) of aid per company.

The final version of the new rules adopted by the EU, announced Friday, increased this limit to 800,000 euros per company as the crisis deepens.

“The economic impact of the Covid-19 outbreak is enormous. We must act quickly to ...