MDB issues new scheme with revised collateral requirement after the Malta Chamber of SMEs highlights difficulties
23 September 2020
Following problems flagged by members on accessing the MDB loan scheme, the Malta Chamber of...
Building up on its success in assisting
more than 2,000 students with over €7.7 million in tax credits, the Get
Qualified scheme administered by Malta Enterprise is being expanded to support
students and other individuals obtain qualifications required by a wider range
Upon successful completion of their course, supported students
are granted a tax credit which may enable them to recover up to 80 per cent of
their expenses in relation to registration fees, examination fees, as well as
fees paid to the university, institution or recognised educational entity.
In this manner, as a result of the
qualifications obtained, students would be better equipped to grasp career
opportunities and invest in further development within those industries showing
a higher potential economic growth. Following the amendments to the scheme,
studies leading to a certificate, diploma, degree or post-graduate degrees
within industries such as advanced manufacturing; maritime; energy, oil and
gas; and life sciences (including health services and veterinary services) will
now be supported.
Engineering courses, for which
support was previously limited to electromechanical engineering, is now being
widened to include other aspects of engineering such as structural engineering.
This will complement the existing
support covering courses related to aviation; economics and statistics;
financial services; crafts and creative industries; chemical and pharmaceutical
industries; information and communication technologies.
A significant amendment is also being
introduced in respect to studies at a doctoral or post-doctoral level, whereby
the Get Qualified scheme will now support all students irrespective of their
area of specialisation.
Students have to submit their
applications by not later than twelve months from the commencement of their
course to be eligible for the tax credit, which is capped depending on the
level of qualification or certification being obtained – with higher amounts
being granted to those obtaining more advanced qualifications.
In recent years, Malta Enterprise has
assisted around 3,500 students with almost €14 million in tax credits to
further their studies and consequently improve their skills and employability
through Get Qualified and similar schemes. Many students who were supported are
today contributing to the Maltese economy by lending the skills and knowledge
acquired to various enterprises in Malta.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).