Press Release: Positive outcome for Black Friday 2024
29 November 2024
Feedback reported to the Malta Chamber of SMEs on Black Friday results indicates mixed outcomes....
MicroInvest: The tax-credit scheme offered
26 March 2010
GRTU has this week held a very successful information session for its members on the new scheme launched by Malta Enterprise for the benefit of small businesses (less than 9 full-time employees as at 10th November 2009) and self-employed.
The scheme is being offered for businesses to innovate, expand, develop and invest. The main benefit is that through these investments in the betterment of their businesses they would be able to deduct as much as €25,000 could be reached up till 2013 and therefore over a period and not within 1 year. Enterprises based in Gozo are entitled to 60% on the total investment however the capping is still maintained the same.
To be eligible the business has to be an activity registered with the VAT Department and in possession of the required licences. They must also not be defaulting on VAT, Income Tax, Social Security and rent due to Government. Costs applied for under this scheme have to be incurred between Jan 2010 and Dec 2011. What costs are Covered:
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Furbishing and upgrading of business premises for improved operations
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Machinery or technologies to improve operations, save or generate energy
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Cost of one commercial vehicle as long as such vehicle is involved in the transport of goods as specified in the guidelines
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Investments which enable compliance with regulations, including Health and Safety, Environment Directives and Physical Access
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Wage costs for new jobs created and/or apprenticeships taken, as long as these constitute a net increase in total working hrs
Applications are made AFTER he investment is made. There is an official application that should be completed electronically and sent/delivered until 31st March 2012.
Contact Abigail Mamo @ GRTU for more information.
