Small and medium-sized enterprises as well as self-employed individuals can be eligible to apply and benefit from the MicroInvest scheme, administered by Malta Enterprise. MicroInvest is a tax credit incentive to encourage undertakings in investing, innovating and expanding their business.

This is the last year during which eligible applicants can submit their application forms for expenses carried out during the previous year, unless Malta Enterprises publishes any updates related to the Scheme.

Eligibility in brief:

This scheme is eligible to enterprises that do not employ more than 30 employees and whose turnover do not exceed €10m during the year in which costs were incurred. Examples of eligible capital investments include costs related to furbishing, refurbishing and upgrading of business premises, purchasing of machinery, instruments and motor vehicles as well as recruitment of employees claiming tax credit for the first twelve months of their employment.

Submission deadlines and further details below:

24th March, 2021: Primary deadline for self-employed submitting tax return in June

26th May, 2021: Primary deadline for companies submitting tax return in September

15th December, 2021: Late submissions

Eligible applicants who submitted a successful application form in March and May will receive an Incentive Entitlement Certificate in 2021, while those who submitted a late application, will receive it in 2022.

If you would like to know whether you are eligible or not, or are eligible to apply for this scheme and you need assistance in filling in and submitting the application form, we can assist you. You can get in touch with Mr Conrad Meli on cmeli@accountingservices.com.mt for guidance. In the meantime, you can also visit our website for more details about this scheme.