Malta’s Prime Minister Robert Abela and Economic Services Minister Miriam Dalli have announced €20 million in new financial assistance to businesses hit by the pandemic. Tax credits for €78 million, will also be extended by three years.
Change to grow 2021
This business re-engineering and transformation scheme will be available to companies that re-model in a sustainable way, with a focus on digitization and environmentally friendly policies:
- criteria widened to include self-employed and micro-enterprises;
- double the aid intensity cap from €5,000 to €10,000 for implemented projects;
- specific resources will be dedicated to support scheme take-up.
Top-up of the rent support scheme
- this scheme will be extended by a further 50% over and above the rent assistance provided for 2020;
- applicable to those undertakings closed as per LN90/2021;
- new applications for those approved under Wage Supplement Scheme in 2021 will be accepted.
Top-up of the electricity support scheme
- this scheme will be re-issued, covering June, July and August 2021;
- it will be open to businesses as per LN90/2021;
- the subsidy will cover 50% of the total electricity bill.
Restart incentive scheme
Malta Enterprise will fund a specialized programme intended for psychological support to entrepreneurs who suffered psychologically during the pandemic. The support will be delivered by a team of professional experts in the field.
Extension of the tax credit certificate issued through the Micro-Invest Scheme
- extension of the period by which tax credits already awarded can be utilized;
- tax certificates due for expiry in 2021,2022 and 2023 will be extended by 3 years respectively (i.e. 2024, 2025, 2026);
- injection of €4m in 8,861 businesses.
Talk to our experts now
Get in touch with one of our experts to receive specialized support on accessing the schemes. Our professionals will assist you with the preparation of all the necessary documents.