The introduction of Legal Notice 444 of 2020, has brought along amendments to the Tax Credits for Micro Enterprises and the Self-Employed Regulations (Subsidiary Legislation 463.09). Such amendments will apply retroactively as from 1st September 2020.
The new amendments provide Malta Enterprise (the authority administering such schemes) the possibility to disburse part of the tax credit awarded as a cash grant. The aim behind such an amendment is to assist small enterprises and self-employed in safeguarding their cashflow during the pandemic.
Furthermore, the deadline for application for assistance under the said Regulations has been extended to 15 December 2021 (previously 30th November 2021).