A few days ago, Malta Enterprise announced that the MicroInvest Scheme has been re-opened following the publication of new regulations by the European Commission. This is good news for self-employed and businesses looking at receiving assistance through such funding opportunities.

The scheme encourages small businesses, family businesses, self-employed, startups, micro-enterprises, and small to medium business employing up to 50 people to invest in innovation, expansion, and development of their operations. The undertakings benefitting from this measure will be supported through a tax credit calculated as a percentage of eligible expenditure, which also covers increased wage costs.

Eligible costs include furbishing and refurbishing of business premises, new investment costs, increase in wage costs, motor vehicles and certification costs such as CE Markings, ISO Certifications, HACCP. A full set of criteria are required in order to apply.

Claims for costs incurred in year 2023

Primary Deadline (Self Employed submitting tax return in June): 10th April 2024

Primary Deadline (Companies submitting tax return in September): 29th May 2024

Eligible Application will receive an Incentive Entitlement Certificate commencing from year of assessment 2024.

This is a very popular scheme with our clients, and we encourage you to get in touch straight away to check your eligibility and to request assistance with applications. Our expertise built throughout the year will guarantee peace of mind for your business funding application. Get in touch with us today. Email Conrad Meli on cmeli@accountingservices.com.mt or click here for further information: https://fairwindsmanagement.net/services/accountancy-services/microinvest-scheme/.

Fairwinds Management Limited is a MFSA licensed firm offering Business Solutions in Malta. As part of our services, we offer Accounting, Administration, Corporate and Legal solutions.  Fairwinds Management also manages the brand Accounting Services. More information about us and our key services please visit our website. You may reach Fairwinds Management on +356 2704 0903 or info@fairwindsmanagement.net.

Article written by Ms Charlene Sciberras, B.A. (Hons), guest writer, a marketing and business administration specialist with a special focus on corporate, accounting, and legal matters.