BCMS Limited
243/1 Constitution Street
Mosta, MST 9052

T: +356 2142-1111
M: +356 9947-5566
F: +356 2141-7118
E: rkg@bcmsltd.com

‘Micro Invest’ Tax Credits for Companies and Self employed

Micro InvestEligible taxpayers may apply for Micro Invest Tax Credits on investments made during 2019 until:

  • 25th March 2020 at 1600hrs for self employed individuals
  • 27th May 2020 at 1600hrs for companies

These tax credits are aimed at micro businesses. Related or “linked” enterprises with common shareholders or voting rights are therefore seen as a “single undertaking” for the purposes of eligibility. For avoidance of doubt this includes “start-ups” as defined by Incentive Guidelines.

Eligible expenditure includes:

  • Costs incurred between 1 January and 31 December 2019;
  • Increased wage costs;
  • Furbishing and refurbishing costs;
  • Investments in machinery, technology or equipment enhancing the operations;
  • Certain motor vehicles;
  • Investment in systems to produce alternative energy;
  • Costs above that are properly supported by the documentation required by the Incentive Guidelines;

Further details are available on http://www.maltaenterprise.com/support/micro-invest but you can leave the specifics to us and let us handle it for you. We have been handling these applications since inception (2010) and we can guide you to ensure that your application is filed correctly so as not to lose eligibility for expenditure that would otherwise be eligible.

Please contact us on info@bcmsltd.com to find out how to exploit this opportunity in time and ensure you can take the full benefit of the tax planning advantage.