Incentives to industry
Malta Budget 2016
- Incentive for small enterprises in the manufacturing sector
- Incentive for knowledge transfer
- Amendment to the Micro Invest Scheme
- Start ups
Incentive for small enterprises in the manufacturing sector
Small enterprises that rent additional space for manufacturing purposes from the private sector shall be entitled to a relocation allowance of up to €10,000 per year, for up to two years. This incentive will be administered by Malta Enterprise.
Incentive for knowledge transfer
Malta Enterprise will introduce a scheme intended to encourage the transfer of knowledge from existing employees to new employees as well as the acquisition by Maltese workers of new skills necessary to attract more work to Malta. The scheme will take the form of a tax credit or a financial grant.
Amendment to the Micro Invest Scheme
In order to encourage entrepreneurial skills in women, the Micro Invest Scheme will be amended so as to entitle self-employed women or businesses which are majority controlled by women, a tax credit of up to €50,000.
Following the launch of the Bstart Scheme this year, which was aimed at assisting start-ups, Malta Enterprise will be launching a new scheme to continue assisting new start-up companies. Assistance will be in the form of financing of up to €200,000, repayable to Malta Enterprise over a 10 year period. This assistance can increase to a maximum of €500,000 for enterprises developing high value added innovative products, processes, or services, and can be used to finance the purchase of equipment.
Assistance may also be granted to companies that intend to raise funding through crowdfunding.