The MicroInvest Scheme, launched by Malta Enterprise is a tax credit incentive for micro enterprises and self-employed. The main objective of this scheme is to assist small and medium-sized enterprises to invest, improve, and expand their business by providing a tax credit based on eligible investment. The type of aid is in tax credits.
In brief, the capital investments which will be eligible for this tax credit include:
- Increase in Wage Costs
- Furbishing and refurbishing of Business Premises
- Investment Costs
- Motor Vehicles
- Certification Costs
Eligibility
Applications shall be accepted from undertakings which at point of application satisfy all of the following criteria:
-During the year in which the costs were incurred, the undertaking did not employ more than 50 full time employees in its trade or business
-The turnover or annual balance sheet total of the undertaking did not exceed €10 Million in the fiscal year preceding the year in which the application is submitted.
-At the date of application, the undertaking must employ at least 1 person (on full or part time basis)
-Unless exempted, the undertaking should be duly registered with the VAT department.
Undertakings engaged in activities specifically excluded under the de minimis Regulation (vide Section 6) are not eligible for this incentive.
Undertakings who have applied for investment aid measures (such as the Investment Aid Tax Credits 2014 – 2020 and Invest) may not apply for this incentive and for any investment carried out within the same year.
At Fairwinds Management Limited, we can 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. This incentive is open to all undertakings, which at point of application satisfy all of the criteria enlisted within the Incentive Guidelines.
The following table portrays all the MicroInvest Scheme deadlines.
Claims for costs incurred in year:
Primary Deadline
(Self Employed submitting tax return in June):
Primary Deadline
(Companies submitting tax return in September):
Late Submissions
Eligible Application will receive an Incentive Entitlement
Certificate commencing from year of assessment:
2023
10th April 2024
29th May 2024
27th November 2024
2024
2025
2024
26th March 2025
28th May 2025
16th November 2025
2025
2026