GRTU has this week held a very successful information session for its members on the new scheme launched by Malta Enterprise for the benefit of small businesses (less than 9 full-time employees as at 10th November 2009) and self-employed.
The scheme is being offered for businesses to innovate, expand, develop and invest. The main benefit is that through these investments in the betterment of their businesses they would be able to deduct as much as €25,000 could be reached up till 2013 and therefore over a period and not within 1 year. Enterprises based in Gozo are entitled to 60% on the total investment however the capping is still maintained the same.
To be eligible the business has to be an activity registered with the VAT Department and in possession of the required licences. They must also not be defaulting on VAT, Income Tax, Social Security and rent due to Government. Costs applied for under this scheme have to be incurred between Jan 2010 and Dec 2011. What costs are Covered:
Applications are made AFTER he investment is made. There is an official application that should be completed electronically and sent/delivered until 31st March 2012.
Contact Abigail Mamo @ GRTU for more information.
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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).
