A Budget that extends the safety-net for Businesses, more tax incentives should follow to enable new investments
19 October 2020
Budget 2021 The Malta Chamber of SMEs is pleased to see a number of its...
Local Companies can now apply for the Training Aid Framework (TAF) to receive a part-reimbursement of costs for training that provides knowledge, skills and competences that increase the adaptability of one or more employees. The TAF is a scheme partly funded through the European Social Fund (ESF).
Training is classified in two: General Training and Specific Training. General Training is training involving tuition which is not applicable only or principally to the employee's present or future position in the company, but which provides qualifications that are largely transferable to other companies or fields of work. Specific Training involves tuition directly and principally applicable to the employee's present or future position in the company and providing qualifications which are not, or are only to a limited extent, transferable to other firms or fields of work
The training eligible can be organised in-house or be out-sourced in Malta or overseas, distance learning and can comprises all the training that is relevant to an enterprise or the self employed. All employers with one or more employees, or self employed persons whose self employment is their primary employment can apply for this aid, except for those sectors which have been allocated funds under other programmes for this particular objective such as agriculture and fisheries.
The eligible costs that may be reimbursed under TAF are the following:
The training can range from one hour long to several months provided that it is successfully completed before the end of the scheme in June 2013. Each trainee can be awarded a maximum grant of € 4,000 per annum. This ceiling increases to € 10,000 where the training programme leads to an MQC (EQF) level 5 or higher. Each company may receive up to a total grant of € 250,000 per year. For Further information regarding this scheme please visit http://www.etc.gov.mt/site/page.aspx?pageid=2280
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).