Other New Incentives & Measures

Other New Incentives & Measures

FURTHER BUSINESS INCENTIVES

 

  • €200 million in tax deferrals.
  • Refund of €5 million in licenses to businesses.
  • A new underwriting facility for private enterprise bonds will be set up through the Malta Development Bank, which will close this year.

ASSISTANCE TO HOUSEHOLDS

 

  • A 7 cent reduction in the price of petrol and diesel.
  • €100 voucher per person aged 16 and over that can be used in a licensed accommodation,
    restaurant or business that had closed.
  • Tax refund cheques to all workers who worked during 2018 – an average family where both parents work will receive up to €328.
  • €2 million in refund for couples who had to postpone the wedding up to a maximum of € 2,000.

PROPERTY AND CONSTRUCTION

 

  • Reduction of stamp duty on property purchases by the end of the year. The stamp duty rate on property purchases will be reduced from 5% to 1.5% on contracts to be signed between June 9 and March 31 of next year.
  • Tax for those selling property under development or those contracts made after June 1 up to March 31, 2021 will be reduced from 8% to 5%.
  • The 1st time buyers scheme will be modified for all contracts taking place from 9 June, unless a person has benefitted from the scheme since 2013.

IMPORT/EXPORT

 

  • Refund of 33% in port charges for those ships that bring cargo to our country in order to support the supply chains of our economy.
  • A 10% refund will also be given on container discharge fees for import and export but not transhipment.
  • Support for export promotion. To reach new markets we need to invest more in supporting digital marketing. A budget of €400,000 has been allocated to Trade Malta to reimburse half of the costs involved, with a maximum of €10,000 for local businesses to invest in campaigns aimed at foreign markets. Click here for further information.
  • Further information can be retrieved via emailing: [email protected] or by calling 2291 4144.

INTERNATIONAL FAIRS

 

  • Up to 80% refund of the costs incurred by businesses participating in international fairs which where cancelled. Click here for further information.

GREEN GROWTH AND SUSTAINABILITY

 

  • €5 million to help Maltese and Gozitan businesses promote themselves and help will be provided for the production of local produce.
  • Government is finalising its plan to announce a Low Carbon Development Strategy in the next annual budget. Its implementation will allow for the creation of a new economic niche as large companies will publish non-financial information to help investors with environmental, social and good governance interests to invest better.

MAKING WORK PAY

 

  • There will be an improvement in the in-work benefit while a special supplement of €250 will be given for each family that benefits from the same scheme. All this with an investment of €4 million.

NURSING HOMES

 

  • Assistance to nursing homes with an allocation of €2 million.

Economic Support Measures

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Quarantine Leave
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Rent Refund
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Electricity Bill Refund
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Wage Supplement
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Business Re-engineering Consultancy
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Microinvest Cash Conversion
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Export Credit Guarantee
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Modernisation of equipment — Construction
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Investment Aid COVID Products
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Skills Development Scheme
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Ongoing Measures
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Other New Incentives & Measures
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Industrial Infrastructural Projects
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COVID-19 R&D Fund