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Malta Enterprise may approve a tax credit equivalent to 45% of eligible expenditure in favour of each undertaking. The maximum eligible tax credits shall be capped at €50,000 over any period of three consecutive fiscal years. The percentage of eligible expenditure and/or the maximum tax credit can increase in certain instances.

Eligible Costs

  1. Increase in Wage Costs by at least 3%
  2. Furbishing and Refurbishing of your business premises
  3. Investment Costs
  4. Commercial Motor Vehicle costs

Key Changes in 2021

  1. If an applicant has claimed the cost of a commercial vehicle during 2018 or 2019 and has purchased an additional commercial vehicle during 2020, the cost incurred during 2020 may be claimed as long as the vehicle is new or first-time registered in Malta, having the EES Rating of at least Euro 5.
  2. If no costs on motor vehicles have been claimed during 2018 or 2019, the EES Rating of at least Euro 5 is not a requirement for eligibility to claim costs on motor vehicles incurred during 2020. However, the commercial vehicle must be new or first-time registered in Malta.

The deadlines to apply for the scheme are 24th March 2021 and 26th May 2021 for Self-Employed Persons and for Companies, respectively.

Does your business meet the above Eligibility Criteria? Contact us on info@zampadebattista.com to benefit from this scheme!