State of the Union: Five key takeaways from Ursula Von der Leyen
17 September 2020
Key points from von der Leyen's state of the union speech [caption id="attachment_14822" align="alignnone" width="640"]...
The Medical Plaza Pharmacy and Perfumery in San Gwann has installed a state of the art photovoltaic system taking advantage of the Malta Enterprise MicroInvest Tax Credit scheme and the expertise of renewable energy specialists Solar Solutions.
The PV system installed at the premises of Medical Plaza is a Hyundai 9kWp PV system utilising SMA inverters which produce approximately 15,000kWh (units) per year. According to Karl Azzopardi, Managing Director of Solar Solutions, this is equivalent to savings of approximately 13,000kg of Co2 emissions per year.
The project has been made possible by MicroInvest Tax Credits for Micro Enterprises and the Self Employed, a scheme managed by Malta Enterprise, which aims at encouraging micro-enterprises and self-employed individuals to innovate, expand and develop their business operations. Both companies and individuals are eligible to apply for these tax credits provided that the number of employees did not exceed nine (9) on the 10th of November, 2009 and their annual turnover must not exceed €2 million. The tax credit amounts to 40% for Malta & 60% for Gozo of the eligible expenditure. Tax credits claimed over the eligible period may not exceed €25,000 in total. Furthermore, an enterprise should utilise any tax credits in connection with this scheme until expiration of the Year of Assessment 2014.
Commenting on the installation, Medical Plaza Managing Director Mr. Malcolm Mallia stated that he decided to invest in the photovoltaic system after Solar Solutions brought the advantages of the MicroInvest Tax Credit to his attention. "With the scheme offering a 40% Tax Credit and the opportunity for a 35% Capital Allowance, I decided to invest in a complete photovoltaic system. Payback and return on investment have proved to be extremely attractive as I envisage a net return on investment of 30% when taking the tax credits into account, and effectively I will be saving 75% of my capital in due course. Apart from reducing my electricity bills, I also feel that I am doing my part in reducing the amount of harmful gases being emitted into the atmosphere."
Solar Solutions Ltd (SSL) is an organization formed with the objective of promoting the implementation of renewable energy sources (RES) in Malta. The company offers a comprehensive service which starts off with a free onsite visit where its consultants will inspect your premises to ensure that the specifications of your photovoltaic installation optimally reflect your energy requirements. Solar Solutions staff will also be able to assist in the preparation of documentation required by the banks for the financing of any of their products and to guide you in taking advantage of Government schemes. Moreover, the company can also quote for any professional plumbing and electrical services in relation to its products. This will put your mind at rest that you will only have to deal with Solar Solutions for the complete implementation of the project.
For more information about Solar Solutions visit http://www.solarsolutions.com.mt/
For more information about the MicroInvest Tax Credit Scheme go to http://support.maltaenterprise.com/Documents/ES-MicroInvest/FAQ.pdf
This is a paid advert
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).