The Maltese Government so far has announced the following fiscal incentives to assist businesses in Malta in the wake of the Covid-19 instability and crisis:
Facilitation of Teleworking Activities
This call supports Employers/ Self-employed to invest in technology that enables teleworking and to partially cover the costs of teleworking solutions. This incentive is a cash grant. Support shall be 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 1st March and 30th March 2020. Total support under this call shall be capped at €2M.
Guidelines with more details on this incentive can be found on this link
Postponement on the payment of Provisional Tax, VAT and Social Security Contributions
Despite the announcement of this measure, no specific details have been given so far. It is also not clear which businesses may avail themselves of this incentive however, it appears that this measure is targeted to tourism and hospitality, entertainment, transport and manufacturing sectors that are being affected by COVID-19. More details to follow as soon as available.
For more information on these incentives, kindly contact:
Franco Falzon C.P.A. LL.M
T: +356 2010 7771 (office)
M: +356 9989 5679 (mobile)
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