Qualifying Employment in Innovation and Creativity

L.N. 462 of 2014

INCOME TAX ACT

(CAP. 123)

Qualifying Employment in Innovation and Creativity

(Personal Tax) (Amendment) Rules, 2014

IN exercise of the powers conferred upon him by articles 14(2)

and 96 of the Income Tax Act, the Minister for Finance, in

consultation with the Malta Enterprise Corporation, has made the

following rules:-

The title of these rules is Qualifying Employment in

Innovation and Creativity (Personal Tax) (Amendment) Rules, 2014,

and these rules shall be read and construed as one with Qualifying

Employment in Innovation and Creativity (Personal Tax) Rules,

hereinafter referred to as "the principal rules".

Sub-rule (1) of rule 2 of the principal rules shall be

amended as follows

(a)

for the definition "eligible office", there shall be

substituted the following new definition

" "eligible office" is an employment in a role

directly engaged in industrial research, experimental

development, product development, product design,

product or process innovation or senior management as

may be further specified in a Guideline document issued

by the Corporation and as verified by the Corporation;";

(b) for the definition "qualification", there shall be

substituted the following new definition

" "qualification" means any qualification

issued by an educational establishment

attesting the successful completion of studies

at post-graduate level and as recognised by

the Malta Qualifications Recognition

Information Centre as established by article 6

of the Mutual Recognition of Qualifications

Act;"; and

(c)

for the definition "relevant experience", there shall

be substituted the following new definition

" "relevant experience" means at least three years

of experience in a role comparable to that of the eligible

office as may be further specified in a Guideline document

issued by the Corporation;".

Rule 3 of the principal rules shall be amended as follows

Amends rule 3

of the principal

rules.

(a) in sub-rule (1) thereof, for the words "emoluments

from an eligible office:" there shall be substituted the words

"emoluments from an eligible office.", and the proviso

immediately thereafter shall be deleted; and

(b)

sub-rule (3) thereof shall be deleted.

Sub-rule (1) of rule 5 of the principal rules shall be Amends rule 5

of the principal

amended as follows

rules.

(a)

the first proviso thereto shall be deleted;

(b) in the second proviso thereto, for the words

"Provided further that should income from a qualifying contract

of employment" there shall be substituted the words "Provided

that should income from a qualifying contract of employment";

and

(c)

in the third proviso thereto, for the words "Provided

also that the rate of 15% shall apply" there shall be substituted

the words "Provided further that the rate of 15% shall apply".

Rule 6 of the principal rules shall be amended as follows

Amends rule 6

of the principal

rules.

(a) in sub-rule (1) thereof, the words "with respect to

EEA and Swiss nationals" shall be deleted;

(b) the proviso to sub-rule (1) thereof shall be

substituted by the following new proviso

"Provided that the Corporation may extend the

option by one year for any person whose employment

commences after the 31st of August of a particular year.";

(c)

sub-rule (2) thereof shall be deleted;

(d)

sub-rule (3) thereof shall be renumbered as sub-rule

(2); and

(e)

sub-rule (4) thereof shall be deleted.

Rule 13 of the principal rules shall be deleted.

Deletes rule 13

of the principal

rules.

The Schedule to the principal rules shall be deleted.

Deletes the

Schedule to the

principal rules.

€0.27