MicroInvest Scheme 2015 – Deadline for submission extended

The submission deadline for the MicroInvest Scheme 2015 application with respect to qualifying expenditure incurred during 2015 has been extended to 30 November 2016 for eligible small undertakings.  The original deadline was 30 March 2016.  This scheme entitles eligible small undertakings to a tax credit amounting to 45% (or 65% for undertakings operating from Gozo) […]

Written By ACT Team

On November 14, 2016
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The submission deadline for the MicroInvest Scheme 2015 application with respect to qualifying expenditure incurred during 2015 has been extended to 30 November 2016 for eligible small undertakings.  The original deadline was 30 March 2016. 

This scheme entitles eligible small undertakings to a tax credit amounting to 45% (or 65% for undertakings operating from Gozo) of qualifying expenditure incurred during 2015.  Such tax credits can be offset against the tax due by such undertakings derived from their trade or business. In the case of applications submitted by the extended deadline of 30 November 2016, the tax credits may only be utilised as from year of assessment 2017. 

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].