One of Malta’s most popular tax credit schemes for small and medium sized enterprises who could get compensated for business investment by means of a tax credit equal to 45% (or 65% if the undertaking operates from Gozo) of eligible costs incurred during the period 1st January 2014 to 31st December 2020.
It is important that an applicant (company or self-employed) does not employ more than 50 employees and turnover does not exceed €10m. Moreover, the credit will be given only in respect to the following expenditure:
costs in relation to furbishing; refurbishing; and upgrading of business premises, including extensions or modifications to such premises;
investment in acquiring machinery, technology, apparatus or instruments which enhance the operations, including systems which help to save energy or to produce alternative energy;
investment made by the undertakings for it to become compliant with regulations, including health and safety, environmental directives and physical access;
investment in one motor vehicle over a period of 3 years, as long as it is involved in the carrying of goods, or Special Purpose Motor Vehicles as defined, or any vehicle that is designed specifically for the carriage of ten persons or more; and
increases in wage cost that exceed 3% of the highest annual wage cost incurred in the preceding two fiscal years.
If you are interested in analysing what tax credits you could be eligible for, please do not hesitate to contact us on email@example.com or your usual NCMB contact in order to assist you accordingly.