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Malta Enterprise has launched a new scheme to assist small and medium enterprises invest in improving their products, services and process and obtain quality marks or certifications which attest such improvements.
Through the Quality+ scheme, Malta Enterprise may approve deductions from taxable income amounting to 150% of the eligible expenditure incurred for achieving the required improvement. The approved amount would be deducted from the taxable income of the beneficiary, resulting in an effective reduction in the payable tax.
Eligible expenses, up to a maximum of €20,000, include costs incurred in the process of achieving a recognised quality certification related to processes, products or services; achieving a recognised environmental certification; adopting of an operations manual and the acquisition of a franchise licence; a due diligence exercises leading to the acquisition of a licence required for participation in a value chain; or in the acquisition of a quality mark.
Amongst others, companies which obtain certifications or quality marks such as ISO 9001:2008, ISO 14001, ISO 22000, MS1500:2004, Hazard Analysis Critical and Control Point (HACCP), BSI Kitemark and CE Mark would be eligible for assistance.
The fiscal support that will be available through this scheme should make it easier for business to carry out investments that lead to superior products, services of higher value or more efficient processes.
More information can be obtained from the Incentive Guidelines on ME website by following this link
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).