Revised Get Qualified scheme launched

Malta Enterprise has launched a revised Get Qualified scheme by means of which students undertaking courses in specific industries or areas of study may get part of the costs back as a tax credit.

Indeed, upon completion of their course students will be able to recover up to 70 per cent of their expenses on registration fees; fees paid to the university, institution or other recognised training or educational entity; as well as examination fees. Tax credits are, however, capped depending on the level of qualification or certification being obtained.

The relaunching of the Get Qualified scheme follows the development of revised versions of the Micro Guarantee and Micro Invest schemes to assist micro and small enterprises, which were likewise recently relaunched.

Through the Micro Guarantee scheme, which aims to accelerate business growth by facilitating access to finance for smaller undertakings, eligible undertakings will be given a guarantee of up to 65% or 80% depending on the activity. The Guarantee, which may be used to finance projects leading to business growth and development, can cover loans between €2,500 and €100,000 obtained from commercial banks.

The Micro Invest scheme will continue to encourage undertakings to invest in their business, to innovate, expand, and to develop their operations. Undertakings, which may include self-employed persons, will be supported through a tax credit equivalent to 45% of eligible expenditure or wages of newly recruited employees. Undertakings operating in Gozo have an additional bonus of 20%  and may thus benefit from a tax credit of 65%.