Malta Enterprise has launched new schemes aimed at addressing the situation being faced by many local businesses as a result of the restrictions imposed by the Health Authorities earlier this year to limit the spread of the COVID-19 virus.
Although as a consequence of the Covid-19 pandemic, the Maltese economy witnessed a slowdown in various business activities, businesses were still faced with fixed operating costs which they had to bear even though their business was not running at full capacity.
These new schemes involve support via refunds on the rent and electricity payments for undertakings operating from business premises. All businesses which have received or are receiving support under the Wage Supplement Scheme are eligible to benefit from this temporary measure.
Rent refund scheme for self-employed and businesses
- Aimed at all those businesses benefitting from the COVID Wage Supplement
- For Tenants, not the landlords
- For Commercial Rental agreements covering the year 2020, entered into force before the 9th March 2020
- The property must be rented from private-sector third parties specifically for the carrying out of economic activities (Rent agreements with MIP are not eligible)
Self Employed and Businesses with one outlet may claim up to €2,500. Businesses with five outlets can claim rental costs of up to €7,500 of annual rent
Electricity bill refund scheme for businesses
All businesses benefitting from the COVID Wage Supplement, those on Annex A, Annex B, and Annex C.
Reimbursement of 50% of the electrical power bills for any bill partially or fully covering the months of July, August, and September 2020.
Businesses with one outlet may claim up to €1,500 of refunds whilst the maximum refund for businesses with multiple outlets having more than one electricity bill is €7,500, depending on the number of employees receiving COVID wage supplements.
HOW CAN WE ASSIST
We set up a dedicated section on our website, Covid-19 Newsroom which provides details of the main measures issued by the Government. It also provides specific useful business support advice on how to manage one’s business under these “new” circumstances.
We also set up a dedicated Covid-19 Business Support Team within Mazars in Malta. Our scope is to assist clients in getting through this crisis and providing assistance in terms of the various measures put in place by the Government. Should you require assistance for any of the above-mentioned measures, please email us on firstname.lastname@example.org. We will respond to your questions within the shortest timeframes possible.
Publication date: 10/09/2020