Malta Enterprise is currently accepting application forms in relation to the Tax Credit supporting the refurbishment of Hotels and Restaurants scheme.
The aim of this scheme is to support holistic refurbishment projects in establishments duly licensed by the Malta Tourism Authority where the main activity is the provision of tourist accommodation in hotels, guest houses and hostels or restaurants.
Applications for this support shall be accepted until 28 November 2019 and successful applicants will be required to complete their project within 24 months from date of approval.
The Tax Credit is available for all business operating in Malta including registered limited liability companies, partnerships and self-employed individuals. The Tax Credits are worked out at the rate of 20% of the eligible costs.
Eligible costs include:
- Design cost which may not exceed 5% of total project costs;
- Replacement of finishes, furniture, fittings and equipment;
Malta Enterprise may approve a tax credit of up to €200,000 for accommodation providers and €50,000 for provision of food service.
Are you eligible to apply for tax credits supporting the refurbishment of hotels and restaurants? Would you like to obtain more information about this scheme? Contact us and we will be able to assist you!