Tax Credits for Micro Enterprises and the Self Employed
This scheme supports micro enterprises and the self-employed that invest in their business, innovate, expand, implement compliance directives and/or develop their operations. Micro enterprises and self-employed will be supported through a tax credit representing up to 40% (for Malta based enterprises) and 60% (for Gozo based enterprises) of the eligible expenditure and wages of newly recruited employees and/or apprentices.
MicroInvest covers investments undertaken between 1st January 2010 and 31st December 2011. The following are eligible expenses for this incentive:
- Furbishing and upgrading of business premises for improved operations;
- Machinery or technologies to improve operations;
- Machinery or technologies which save or generate energy;
- Investments which enable compliance with regulations, including Health & Safety, Environment Directives and Physical Access;
- Cost of one commercial vehicle as long as such vehicle is involved in the transport of goods as specified in the guidelines;
- Wage Costs for new jobs created and/or apprenticeships taken, as long as these constitute a net increase in the total number of employees as of the 10th November 2009.
Applications should be made to Malta Enterprise once a year after the costs have been incurred.
For more detailed information about the scheme contact the Malta Enterprise