Brexit Support Scheme Regulations 2019

The Government of Malta has issued new rules to provide assistance to SME undertakings that operate in Malta and which have a significant dependency on the British market in terms of import and export.  The aid will consist of a cash grant covering 50% of the eligible costs, which shall not exceed Eur5,000.  Eligible costs […]

Written By ACT Team

On November 1, 2019
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The Government of Malta has issued new rules to provide assistance to SME undertakings that operate in Malta and which have a significant dependency on the British market in terms of import and export.  The aid will consist of a cash grant covering 50% of the eligible costs, which shall not exceed Eur5,000.  Eligible costs shall be those relating to advisory services provided by external consultants which shall not relate to a continuous or periodic activity nor to usual operating costs such as routine tax consultancy services, regular legal services or advertising. 

Malta Enterprise will be issuing new Guidelines providing further details on the aid as well as provide a clear definition of the significant dependency on the British market, which shall take into consideration the SME’s turnover dependency on transactions related to the British market during the last two fiscal years.

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].