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The Ministry for Economy, Enterprise and Strategic Projects has announced that Malta Enterprise is extending the deadline for submission of applications for Micro Invest until the 10th of April 2024.

The applications for the Micro Invest scheme can be submitted via the corporation’s client portal.

The scheme encourages small businesses to invest in innovation, expansion, and development of their operations. Undertakings benefitting from this measure will be supported through a tax credit calculated as a percentage of eligible expenditure, which also covers increased wage costs.

Self-employed individuals, micro-enterprises, start-ups, and SMEs having up to 50 employees are eligible for this scheme. Malta Enterprise may approve a tax credit equivalent to 45 per cent of eligible expenditure in favour of each undertaking.

The maximum eligible tax credits per single undertaking shall be capped at €50,000 over three consecutive fiscal years, starting from eligible expenses incurred and paid for during the year preceding the year in which the claim is submitted.  This capping shall be increased by €20,000 (to a total of €70,000) for single undertakings: operating from Gozo, registered as a family business, or having more than 50 per cent of the ownership attributed to female persons.

The scheme has recently been extended until 31st December 2026 to cover costs incurred in 2023 and 2024. The scheme was renewed following the publication of new regulations by the European Commission, which have set the maximum de minimis limit over a period of three years to €300,000. The capping before this latest change was set at €200,000.

More information on the scheme can be found here. Applications may be submitted via this link.


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