More than 250 prospective applicants attended a number of information sessions organized by Business First to provide information on the revised MicroInvest scheme. A total of six info-sessions were held; five in Malta and another one in Gozo.
During the info sessions, Business First representatives explained in detail the revised Incentive Guidelines and the application process, while those attending had the opportunity to raise any queries they had.
MicroInvest Scheme 2014 mainly supports self-employed registered with the Employment and Training Corporation and enterprises that employ less than 30 full-time equivalent employees and have a turnover that does not exceed €10 million to invest in their own operations.
Eligible undertakings may be approved a tax credit equivalent to 45% of eligible expenditure, up to a maximum of €30,000 over a period of three consecutive years. An additional bonus of 20% applies to undertakings operating from Gozo.
Start-ups are supported with an additional year of tax certificate release and may thus benefit from tax credits over a period of four consecutive years. Start-ups registered in and operating from Gozo are also supported by an additional €20,000 in tax credits and may thus be approved a maximum of € 50,000.
Potential applicants are urged to read carefully both the Incentive Guidelines and FAQs, as well as to ensure they comply with the requirements as stipulated in the Guidelines and Application Form prior to submitting an application.
While the deadline for submission of applications is the 30th March, 2015, interested applicants are encouraged to submit their complete application form at their earliest convenience.
The Incentive Guidelines, FAQs and the Application Form can be found on: http://www.maltaenterprise.com/en/support/microinvest. In case of any clarification, prospective applicants are encouraged to contact Business First representatives by calling 144 or sending an email to [email protected].