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LN 178 of 2016 – Assistance for Knowledge Transfer Regulations, 2016

A new tax credit has been introduced in order to assist undertakings that may contribute to the economic development of Malta.

Where Malta Enterpise is satisfied that an undertaking carrying on or intending to carry on an activity that may contribute to the economic development of Malta, requires assistance to support the development of training programmes and their implementation, relating to the activities carried out by that same undertaking, which training programmes can increase the skills and expertise of its employees or assist such employees in acquiring new skills, Malta Enterprise may provide such an undertaking with a tax credit or a cash grant, in accordance with the terms and conditions set out in the Guidelines.

In order to qualify for the above-mentioned assistance, the undertaking shall be a newly established undertaking or an undertaking that has employed at least five (5) employees on full time basis for the last two (2) fiscal years.

Provided that, for the purposes of this sub-regulation, "newly established undertaking" shall have the meaning attributed to it in the Guidelines.

The above-mentioned assistance shall not exceed –

(a) seventy per cent (70%) of the eligible costs in the case of an undertaking which qualifies as a small undertaking;
(b) sixty per cent (60%) of the eligible costs in the case of an undertaking which qualifies as a medium-sized undertaking;
(c) fifty per cent (50%) of the eligible costs in the case of an undertaking which qualifies as a large undertaking:

Provided that the total amount of assistance that may be granted to an undertaking in terms of this regulation shall not exceed the amount of one million Euro (€1,000,000) in accordance with the terms and conditions set out in the Guidelines.

Applications for assistance under these regulations shall reach the Corporation by not later than the 31st October, 2020.