Malta Enterprise is promoting the Micro Invest Scheme which is aimed at encouraging micro enterprises and self-employed businesses to invest in, innovate, expand and implement compliance directives with a view to develop their operations.
Micro enterprises and self-employed will be supported on the strength of a tax credit representing a percentage of the eligible expenditure and wages of newly-recruited employees and/or apprentices.
The scheme is open to all micro enterprises and micro start-ups satisfying a number of criteria.
Applicants must employ no less than nine persons on a full-time basis as at November 10, 2009.
Micro start-ups set up after this date will also be eligible to participate in this scheme. Those businesses applying in 2012 must not employ more than nine persons on a full time basis as at January 1, 2012 and must not exceed an annual turnover of €2 million.
All applicants must also be registered with the VAT Department and must be in possession of regulatory licences and applicable permits.
Malta Enterprise may approve a tax credit equivalent to 40 per cent of eligible expenditure and, a bonus of 20 per cent (a total of 60 per cent tax credit) also applies to Gozo-based micro enterprises.
This scheme runs until March 31, 2013.
More information can be obtained by contacting Malta Enterprise on 144 or at info@maltaenterprise.com.
info@impetuseurope.com
www.impetuseurope.com