26.02.2019

The financial situation of a business is the ‘hot topic’ for all businesses especially start-ups. Many are those who struggle to keep all finances in order when investing money on new equipment or on company vehicles, refurbishment or upgrading the business premises.

Luckily enough, to help make such investments in Malta easier, the Malta Enterprise runs a scheme to act as a tax credit incentive for micro-enterprises and self-employed businesses. The ultimate aim of the MicroInvest scheme is to encourage undertakings to invest, innovate and expand the business.

If you run a small or a medium-sized enterprise or self-employed, you might be eligible to apply for such tax credits as not every investment is eligible for funding. Such costs that are not eligible include rented or leased equipment or property and maintenance costs.

The deadline for self-employed people who will submit their tax return in June and are eligible to benefit from the MicroInvest scheme for costs incurred in 2018 is 27th March, 2019. Two months later, on 29th May, there will be the deadline for companies that submit their tax return in September. Costs should be related to 2018 investments.

If you are not sure whether you are eligible to benefit from MicroInvest Scheme or would like to receive further information as well as detailed upcoming deadlines, you can visit our partner’s website: https://accountingservices.com.mt/services/microinvest-scheme/

Accounting Services Ltd will also help you in the application process and provide you with advisory services in order to successfully obtain funding for your business investment and other tax benefits.

You can also get directly in touch with Ms. Charlene Sciberras on csciberras@accountingservices.com.mt