This scheme offers a tax credit equivalent to 35% of the total value of the investment made by an investor made in one or more qualifying companies, up to a maximum of € 250,000 per annum.
Such tax credit can be set off against the tax due the qualifying investor in respect of the any income or gains charged to tax in that particular year. Any unabsorbed tax credit may be carried forward and utilised in future years until fully absorbed.
Who can apply for such scheme?
A qualifying company is defined as a company incorporated and/or managed and controlled in Malta, which has less than 10 employees and gross assets of less than € 250,000 that has been in existence for less than 3 years.
Companies dealing with immovable property, shares or other financial instruments, operating or managing hotels or residential care homes, providing legal or accounting services or carrying on the banking or insurance are automatically excluded from applying for such scheme.
How can Mazars help?
Mazars can provide you with more information about this Scheme and applicability of this for you or your company. Mazars can assist you in the application process and in utilising such tax credit accordingly