Tax Credits for R&D and Innovation

Introduction Malta Enterprise (ME) has recently launched a new scheme, the scope of which is to assist undertakings that employ for a period of at least twelve (12) months a person holding or reading for a doctoral degree in science, information technology or engineering.  Beneficiaries shall be awarded a tax credit of €10,000 which shall […]

Written By Stephen Balzan

On September 2, 2017
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Introduction

Malta Enterprise (ME) has recently launched a new scheme, the scope of which is to assist undertakings that employ for a period of at least twelve (12) months a person holding or reading for a doctoral degree in science, information technology or engineering.  Beneficiaries shall be awarded a tax credit of €10,000 which shall be capped accordingly if the applicant exceeds the de minimis limited allocated to the single undertaking. 

The support may be claimed once after a person holding a doctoral degree (MQF Level 8) or reading a doctoral degree in science, information technology or engineering has been employed for a minimum of twelve (12) months.  Such employment must not have commenced prior to 1st January 2016.

The incentive shall remain available until 31 December 2020.  ME has a budget of Eur500,000 for this incentive.

Eligible undertakings

Eligible undertakings must apply after the person has been employed for twelve months but within twenty-four months from the commencement of employment of the person.  Applicants will need to provide:

  1. An employment history of the person issued from Jobsplus;
  2. Confirmation that the person held a doctoral degree on the date of employment or was reading for a doctoral degree in science, information technology or engineering and completed the degree or was still in the process of completing the degree in the said twelve month period.   

How can we help?  

For further information, please contact one of the firm’s tax partners, Stephen Balzan on [email protected] or Elaine Camilleri [email protected]. ACT can help you understand the changes to the tax 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 00356 21378672 or send us an email on [email protected]. 

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