While during these times everyone’s main priority should be towards keeping safe and healthy, business owners in particular could lessen a bit the burden on their mind by taking advantage of a number of incentives announced by the Maltese Government.
“business owners in particular could lessen a bit the burden on their mind by taking advantage of a number of incentives announced by the Maltese Government.”
Earlier on this week the Maltese Government announced grants to compensate employers who decide to equip themselves with facilities which enable their employees to work from home. In addition, certain deadlines including VAT, TAX, Social security payments and even Vehicle licenses have been postponed.
> Deferral of Tax, VAT and Social Security Contributions for businesses
> Banks to offer 3 month moratorium (payment break up) for business and personal customers
> €150m invested with the aim to cover bank guarantees and €750m soft loans
Moreover on Wednesday 18th March 2020 also the Maltese Government launched a wide package of incentives worth €1.81 billion. The following are the key take-outs for businesses:
> Businesses that stalled production by 25% will be guaranteed pay for 1 day/week
> Self-employed, who have lost work, will receive a benefit for 2 days/week, capped at €800/month income
> No more work permit applications for non-EU nationals will be accepted
There are also a number of incentives aimed at the society at large:
> Special unemployment benefit for people who lost their job as from 9th March 2020.
> Further €35m to the health authorities to fight COVID-19
> People who cannot telework and are forced to leave their job to take care of their children can get up to € 800 per month
> Housing subsidies will increase for families with one person who lost their job
All this requires a number of considerations so feel free to get in touch with NCMB Consulting to see how you could benefit. Please contact us by email on firstname.lastname@example.org or by telephone on +356 2133 0721 / +356 2133 8519
NCMB Consulting encourages you to stay healthy but to look forward for a brighter future.