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New Tax Credits for Female Owned Undertakings

GVZH Advocates
15 February, 2016

Through Legal Notice 36 of 2016, The Minister for the Economy, Investment and Small Business has recently released the Tax Credits for Micro Enterprises and the Self-Employed (Amendment) Regulations, 2016. These Regulations shall be read and interpreted as one with the Tax Credits for Micro Enterprises and the Self-Employed Regulations. Accordingly, before issuing these regulations the Minister consulted with Malta Enterprise.

The principal regulations state that Malta Enterprise may provide tax credits to undertakings that are running a business or a trade. However, an undertaking applying for such a tax credit must provide Malta Enterprise with the necessary proof that it is applying for such tax credit in order to develop, modernize or invest in its business in Malta.

Essentially, the amendment introduced a new proviso relating to female owned undertakings. The new proviso states that from the current year of assessment onwards, female owned undertakings may benefit from advantageous tax credits in terms of the aforementioned regulations. Notably, the tax credit shall not exceed €50,000 over any period of three consecutive years.



About the Author


GVZH Advocates

GVZH Advocates is a modern and sophisticated legal practice composed of top-tier professionals, firmly rooted in decades of experience in the Maltese legal landscape. Built on the values of acumen, integrity and clarity, we are dedicated to providing the highest levels of customer satisfaction, making sure that legal solutions are not only soundly rooted and rigorously tested, but also meticulously implemented. www.gvzh.com.mt

 

 

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