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        • Malta Enterprise has just opened the MicroInvest scheme for 2014. This scheme is a tax credit incentive aimed for micro enterprises and self-employed individuals. In order for a person to be eligible to apply, one must satisfy the following criteria:

              1. The applicant does not employ more than 30 persons (Full Time Equivalent) and has a turnover that does not                 exceed €10 million 

              2. The applicant must employ at least 1 person (on full or part time basis) at the date of application. The person                 employed can also be the applicant himself in the case of self-employed persons. 

              3. Only undertakings registered with the VAT department are eligible. 

              4. Applicants must not be defaulting on VAT, Income Tax and Social Security. 

              5. The incentive is intended to support enterprises carrying out a trade or business, and is therefore not applicable           for voluntary organisations. 


          Eligible expenses that can be covered by this scheme include: 

          1. Costs subcontracted to third parties in relation to furbishing, refurbishing and upgrading of business premises – the items must be part of a receipt issued by the subcontractor providing the services. 

          2. Investment in acquiring new (or first-time used in Malta) machinery, technology, apparatus or instruments which enhance operations – these include systems which help to save energy or to produce alternative energy. 

          3. Capital Investment in Information Technology – this also includes any investment on an applicant’s website. 

          4. Over a period of 3 years, investment in a new motor vehicle (or first-time used in Malta) as long as such vehicle is involved in the carrying of goods (category N1, N2 or N3 motor vehicle), and Special Purpose Motor Vehicles (category E) as established in the Motor Vehicle Registration and Licensing Act (Chapter 368 Laws of Malta) 

          5. Basic wage costs (excluding any allowance, insurances, bonus and national insurance borne by the employer) covering a 12-month period pertaining to new full-time jobs created as from 1st January (of the previous year the claim is submitted) as long as this constitutes a net increase in the total number of full-time employees of the applicant when compared to the employment figure of the previous years. 

          6. Part-time employment is also eligible when such employment required the employee to work in excess of 20 hours per week. 

          myEUfunds is offering extended support to any business who may be interested in taking advantage or learning more about this scheme. Our team will be more than happy to assist you in the submission of the application. Feel free to contact us on 21228340 or by email on info@myeufunds.com for further information.