Micro Invest Tax Credits 2021 – For Companies

Companies can now apply for tax credits calculated at a percentage of the cost of investments carried out in 2020.

The deadline for submission of applications for investments carried out in 2020 is 26 May 2021

In order to be eligible, the applicant should:

  • Be registered as a company;

  • Not employ more than 50 persons, and

  • Not have a turnover exceeding €10m in the fiscal year preceding the year in which the application is submitted.

What type of expenditure is eligible?

  1. Wage cost increases that exceed 3% of the highest wage costs of the previous 2 fiscal years – the eligible value shall be calculated by deducting the highest annual wage costs incurred in the 2018 and 2019 from the wage costs incurred in the relevant fiscal year (i.e. 2020).

  2. Costs incurred for services rendered for the furbishing, refurbishing, and upgrading of business premises by third parties, including costs of materials and other items required for furbishing, refurbishing and upgrading of the business premises that are endorsed as to have been utilized by the third party providing the services in the works carried out.

  3. New (or first time used in Malta) machinery, technology apparatus and instruments.

  4. Systems intended to produce alternative energy.

  5. Tangible and intangible assets required for the digitization of the business operation such as computer hardware, packaged software solutions, and development costs for new software systems, websites, and digital applications.

  6. Costs incurred for the purchase of any Commercial Vehicle procured as new or first time registered in Malta having a European Emission Standard rating of at least Euro 5, as long as such vehicle is:

    • involved in the carrying of goods (Category N1, N2 or N3 motor vehicle); or

    • special purpose Motor Vehicles;

    • any vehicle that is designed specifically for the carriage of ten or more persons. An eligible undertaking that has not claimed the cost of a vehicle in 2019 and 2020, may in 2021 still claim the cost incurred for the purchase of one commercial vehicle which must be new, or first time registered in Malta, even if such vehicle does not comply with the Euro 5 Standard.

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