Rent Refund Scheme

In addition to the Electricity Refund Scheme, Malta Enterprise has on the 2nd of September 2020 launched the Rent Refund Scheme, whereby undertakings that operate from a business premises will be supported with a refund on their rent expense. This scheme is available to those undertakings that have received or are receiving support under the Wage […]

Written By Elaine Camilleri

On September 7, 2020
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In addition to the Electricity Refund Scheme, Malta Enterprise has on the 2nd of September 2020 launched the Rent Refund Scheme, whereby undertakings that operate from a business premises will be supported with a refund on their rent expense. This scheme is available to those undertakings that have received or are receiving support under the Wage Supplement Scheme, regardless of their size.

The support consists of a direct cash grant of the rent paid by the undertaking. The grant is limited to Eur7,500 of annual rent for each undertaking on up to 5 licensed business premises as detailed hereunder:

Employees Receiving Wage SupplementEligible Rental AgreementsMaximum Support under the Scheme
1-91€ 2,500
10-192€ 4,000
20-293€ 5,500
30-394€ 7,000
40 and over5€ 7,500

The scheme is only available in respect of rental agreements that have entered into force prior to 9th March 2020. In addition, the immovable property must be rented from private sector third parties specifically to carry out the economic activity of the eligible undertaking.

How can we help?  

 

For further information, please contact us on [email protected]. ACT can help you understand the changes to the income tax, accounting, corporate and VAT rules and how these can impact your business.   

 

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on +356 21378672 or send us an email on [email protected]. 

Disclaimer: This article contains general information only and is not intended to address the circumstances of any particular individual or entity. ACT, by means of this article is not rendering any accounting, business, financial, investment, legal, tax, or other professional advice or service. This article is not a substitute for such professional advice, nor should it be used as a basis for any decision or action that may affect your finances or your business. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Before making any decisions or before taking any action that may affect your finances or your business, you should consult a qualified professional adviser. ACT shall not be responsible for any loss whatsoever sustained by any person who relies on this article.