12.05.2020

It’s been over 2 months since the outbreak of COVID-19 in Malta, and since then, students, parents, self-employed people, SME’s and employees in various industries have received assistance from the Government in one way or another.

In the past days, two measures that will certainly help businesses have been extended:

Deferral of Tax Payments

The paying of Provisional Tax, VAT and National Insurance Contribution on salaries have been extended until June 2020.

Most targetted sectors: Tourism and Hospitality, Entertainment, Transport, Manufacturing sectors. Anyone who failed to pay tax that was due by end of 2019 and who paid under the Mini One Stop Shop are excluded to benefit from this incentive.

Wage Supplement

Employees of businesses mostly affected by the impact of COVID-19 will receive a wage supplement. This incentive has been recently extended to cover the months of May and June too.

In addition to the above Government measures, we at Fairwinds Management Limited are assisting businesses that have been affected by the pandemic by offering them an Employee voluntary salary reduction plan. This plan offers you suggestions and solutions to consider for your business related to rental contract, opening hours, salaries, and more.

A full list of fiscal measures announced by the Government in the past two months has been compiled by our partner company, Accounting Services Ltd, and can be accessed here.

If you require any further details about any of these measures, or would like to receive guidance on how to apply for such benefits, you can get in touch with Dr. Adrian Sciberras on asciberras@fairwindsmanagement.net.

Important Information

We would like to remind you that our employees are currently making use of the teleworking opportunities and we are still not accepting clients to our offices. Meetings can still be made virtually, or communication can be made via email or phone calls.

Clients who need to drop off or collect any documents, can still do so, however they are requested to let us know the date and time of such activity in advance.

Stay Safe!