The Scheme

The Micro Invest scheme is a tax credit incentive for micro and self-employed businesses. Introduced by the Malta Enterprise, the aim is to support and encourage small businesses, family businesses and self-employed persons to not only invest in their business but also further expand and develop their enterprise.

This tax credit is calculated as a percentage of the eligible expenditure including wages of new employees. Further, interested applicants may submit one application per calendar year. This can only include costs and expenditure incurred during the previous year.

Documentation

All documentation related to the application is required to be kept in a separate file. This, will then be passed on to either the Corporation or its delegated auditor. The recipient is requested to keep the records for 10 years from the issuing of the IEC.

Eligibility Criteria

1. Not more than 30 persons on a fulltime basis were employed for a consecutive three-month period during the year preceding submission of application,
2. Turnover of enterprise did not exceed €10 Million in the fiscal year preceding submission of application,
3. The applicant must employ at least one person on a full time or part time bases (on date of application),
4. Applicants should be registered with the VAT department (unless exempted),
5. Applicants engaged in activities specifically excluded under the de minimis regulations (vide Section 6) are not eligible.

Deadline

Applicants need to submit their applications for their 2016 expenditure by the 15 December 2017 at 16:00hrs. This applies for both self-employed persons and limited companies.

More Information

Contact our team of experts for more information on this scheme and how your business can benefit from it. You can also submit your application online through the Malta Enterprise login.