Micro Invest Tax Credit Scheme

 -  16/April/2018

Micro Invest Tax Credit Scheme for costs incurred during 2017 - deadline

Malta Enterprise are receiving applications from undertakings qualifying for the Micro Invest Tax Credit Scheme by virtue of which any micro enterprises may benefit from a tax credit equivalent to 45% of eligible expenditure. An additional bonus of 20%, totalling a 65% tax credit, applies to undertakings operating from Gozo.

The maximum tax credit available is capped at €50,000 for undertakings in both Malta and Gozo for female-owned businesses including self-employed (but not limited to start-ups). Expenses that can be covered by this scheme include:

  • Investment costs in
    • New (or first time used in Malta) machinery, technology, apparatus and instruments 
    • Systems intended to produce alternative energy 
    • Tangible and intangible assets required for digitisation of the business operations
  • Wage cost increases that exceed 3% of the highest wage costs of the previous two fiscal years
  • Costs incurred for services rendered by third parties for the furbishing, refurbishing and upgrading, including extensions or modifications to premises, of business premises
  • Investment in a commercial motor vehicle

For Limited Companies the submission deadline is: 30th May 2018.

At KSi Malta we can help you in the submission process of this application. Should you like to know more please contact our Tax Advisor, Kristine Scerri, on kscerri@ksimalta.com

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