The COVID-19 pandemic has affected the globe, and it has also impacted the Maltese economy. To help the local community during these trying times, in March and later on in June, the Government of Malta announced a number of fiscal incentives directed to businesses, self-employed, employees, parents and the local community, with most of them being discounted in early June during the transition period.

 

Our experienced professionals are here to assist you in benefiting from the incentives that are still applicable and are aimed at re-inforcing the Maltese economy. These coronavirus Malta support for business fiscal measurements can be found below:

 

 

  • Tax Deferrals will remain in effect until September – applicable only to VAT and provisional tax. As from 1st July, businesses are to pay the FSS tax and social security contributions as usual (Updated 9.06.2020)

 

  • The Wage Supplement will remain in place – but with some amendments explained in the different Annexes announced by the Government – until the end of September for five industries: Tourism accommodation, travel agents, language schools, event organisers and transport (Updated 9.06.2020)

 

  • Over 20,000 enterprises that have been granted the Wage Supplement will be able to apply for a grant of up to €2,500 by submitting their lease agreements (Updated 15.06.2020)

 

  • Businesses eligible for the Wage Supplement will also be awarded additional support in the first months after resuming operations (July – September). These will receive a 50% reduction off a commercial rate account up to an amount of €1,500 per applicant (Updated 15.06.2020)

 

  • Tax credits received as part of the Malta Enterprise micro-invest scheme can also be transferred into cash grants (Updated 9.06.2020)

 

  • A scheme by Malta Enterprise will be set to help companies re-structure their business models. €5,000 budget per business will be reserved for consultancy services in this regard (Updated 9.06.2020)

 

  • License fees, such as MTA and Commerce Department licenses, will be waived (Updated 9.06.2020)

 

  • The Malta Development Bank will step in to under-write any bonds which are not sold when these mature (Updated 9.06.2020)

 

  • A grant of €350 given to employers for every employee on quarantine leave

 

  • An additional two-month paid leave at the rate of €800 monthly to families where both parents are employed and where teleworking does not apply to any parent, so one parent has to take care of the children – Applicable until end of June

 

  • Employees of entities mostly hit by the suspension of operations within the sectors of accommodation, restaurants, entertainment, and language schools, will be paid for five days a week, based on €800 monthly. This includes all self-employed. Part-time employees will be eligible up to €500 per month

 

  • Full time employees of enterprises working in other sectors, including wholesale, manufacturing, and warehousing, will be entitled to one days’ salary per week equivalent to €160 per month. Part-time employees will be eligible to one day’s salary per week, equivalent to €100 per month

 

  • Self-employed in other adversely affected sectors who have employees will be entitled to two-days’ salary per week equivalent to €320 per month

 

  • Gozo based enterprises will receive two days’ salary per week equivalent to €320 per month for full time employees, and €200 per month for part time employees

 

  • Self-employed based in Gozo operating in other affected sectors will be entitled to 2 days’ salary per week, €320 per month. This will increase to 3 days salary, equivalent to €480, for those self-employed who employ staff, and the employees will be entitled to two days’ salary per week

 

  • Tenants who will be losing their jobs, and were previously illegible from the rent subsidy, will now be covered by this assistance

 

  • Government will also increase the rent subsidy to sole dependents who were already receiving rent subsidy but might now lose their job

 

  • Bank guarantees for companies requesting operational loans with low interest rates and longer repayment periods

 

  • Three-month moratorium from banks for business or personal loans to help individuals and business

 

 Measures that have been discounted are listed below:

 

  • Postponement of income-tax, VAT and National Insurance contributions until June, of both employers and self-employed

 

  • Employers and self-employed individuals investing in technology that enables teleworking and to partially cover the costs of teleworking solutions, will receive support limited up to €500 per teleworking agreement and €4,000 per undertaking. The grant shall be awarded against 45% of the eligible cost. This call is eligible for costs incurred between 15th of February and 8th May 2020

 

  • Disabled persons who are impaired from performing work from home and are constrained to remain at home due to COVID-19, will received €800 monthly

 

  • Employees who had their full-time employment terminated as of 9th March 2020, including those who were self-employed, as a result of the COVID-19 pandemic will be eligible for the Contributory Unemployment Benefit and will receive a direct payment of €166.15 if work was in full-time before you became unemployed, or €103.85 per week if work was part-time before becoming unemployed.

Last updated: 15.06.2020