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Micro Invest Tax Credit 2015

22.01.2016

The Micro Invest Tax Credit Scheme 2015 has been launched by Malta Enterprise once again with the aim of supporting the self-employed and Micro Enterprises employing less than 30 full-time equivalent employees and whose turnover does not exceed €10 million.

Eligible undertakings may be approved a tax credit equivalent to 45% of the eligible expenditure, up to a maximum of €30,000, over a period of three consecutive years. Female-owned businesses including self-employed (but not only start-ups) will be granted a maximum tax credit of up to €50,000 instead of €30,000. Undertakings operating from Gozo benefit from a higher tax credit of 65% of the eligible expenditure, up to a maximum of €50,000.

Deadline: The deadline for submission of applications is the 30th March 2016.

Qualifying costs for the Micro Invest Tax Credit 2015

  • Wage costs covering a 12-month period in relation to new full-time jobs created from 1st January 2015 as long as this constitutes a net increase in the total number of full-time employees of the applicant when compared to the employment figure of the previous 3 years. Part-time employment is eligible when such employment required the employee to work in excess of 20 hours per week
  • Capital Investment in machinery and technology which enhance the operations of the Enterprise
  • Costs subcontracted to third parties in relation to furbishing, refurbishing and upgrading of business premises including extensions or modifications to premises
  • An investment in one new motor vehicle (or second hand but first time used in Malta) as long as the purpose of the vehicle is to be used in the carriage of goods.

Our services

Nexia BT has advised and assisted various clients from different business sectors in the past years. We can assist you with the preparation and submission of the Micro Invest application and other supporting documents with Malta Enterprise, ensuring that the maximum eligible tax credit is claimed.

Contacts

Karl Cini
Partner
karl.cini@nexiabt.com

Antoinette Scerri
Senior Manager
antoinette.scerri@nexiabt.com