Malta Enterprise: MicroInvest Scheme
Tax Credit Incentive for Micro Enterprises and Self Employed
The main objective of the MicroInvest Scheme launched by Malta Enterprise 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 Accounting Services, we can help you in the application process and provide you with advisory services 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 the criteria enlisted within the 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 | 2024 | |
| 17th November 2024 | 2025 | |||
| 2024 | 26th March 2025 | 28th May 2025 | 2025 | |
| 26th November 2025 | 2026 |