Micro Invest Tax Credits for Self-Employed Individuals 2022

The new deadline for submission of applications for investment carried out in 2021 is 23rd March 2022 at 16:00hrs.

Eligible expenditure includes:

1. Wage cost increases that exceed 3% of the highest wage costs of the previous two fiscal years. The eligible value shall be calculated by deducting from wage costs incurred in the relevant fiscal year, the highest annual wage cost incurred in the preceding two fiscal years.

2. Costs incurred for services rendered for the furbishing, refurbishing, and upgrading of business premises by third parties, including costs of materials and other items required for furbishing, refurbishing and upgrading of the business premises that are endorsed as to have been utilised by the third party providing the services in the works carried out.

   With regards to applications received from 2022 (costs incurred in 2021), the Corporation shall only support costs incurred for the furbishing, refurbishing and upgrading of business premises covered by one of the following Planning Authority licences:

   CLASS 2A – Residential Institution - Residence for people in need of care on a temporary or permanent basis, such as a hospital or nursing home.

   CLASS 2B – Non-residential institution, such as a museum, library or public hall.

   CLASS 2C – Educational institution - school, nursery, day centre, etc.

   CLASS 3A – Guest Houses, Palazzini, Boutique Tourism

   CLASS 3B – Hotels

   CLASS 3C – Assembly and Leisure

   CLASS 4A – Financial, Professional and Other Offices

   CLASS 4B – Retail

   CLASS 4C – Food and Drink Establishments where no cooking is allowed

   CLASS 4D – Food and Drink Establishments where cooking is allowed  

   CLASS 5A – Light Industry

   CLASS 5B – General Industry

   CLASS 5C – Specialised Industry

   With regards to applications received from 2022 (costs incurred in 2021), the Corporation shall only support costs for the refurbishment of short-term accommodation facilities. These may only be claimed if a valid Malta Tourism Authority permit covering the premises is provided with the request for support is submitted. The services must be provided by third parties and costs of materials and other items required for furbishing, refurbishing and upgrading of the business premises must be included within the provision of the service.

3. New (or first time used in Malta) machinery, technology apparatus and instruments.
4. Systems intended to produce alternative energy.
5. Tangible and intangible assets required for the digitisation of the business operation such as computer hardware, packaged software solutions and development costs for new software systems, websites and digital applications.
6. Over a period of three years, investment in one new motor vehicle (or first time registered in Malta) as long as such  vehicle is:

• involved in the carrying of goods (category N1, N2 or N3 motor vehicle); or
• special purpose Motor Vehicles; or
• any vehicle that is designed specifically for the carriage of seven of more persons.

As from 2022(for costs incurred in 2021), operators licensed to provide passenger transport services holding a licence from Transport Malta may claim in any rolling 3 year period the costs incurred for the purchase of 1 plug-in hybrid or electric passenger vehicle purchased for the provision of passenger transport services.

Are you eligible to apply for the Micro Invest Tax Credits? Contact us and we will be able to assist you!