Tax Credits for Micro Enterprises and the Self-Employed

L.N. 140 of 2017

MALTA ENTERPRISE ACT

(CAP. 463)

Tax Credits for Micro Enterprises and the Self-Employed

(Amendment) Regulations, 2017

IN exercise of the powers conferred upon him by article 5 of the

Malta Enterprise Act, the Minister for the Economy, Investment and

Small Business, in consultation with the Malta Enterprise

Corporation, and with the concurrence of the Minister of Finance, has

made the following regulations:-

The title of these regulations is the Tax Credits for Micro

Enterprises and the Self-Employed (Amendment) Regulations, 2017,

and these regulations shall be read and construed as one with the Tax

Credits for Micro Enterprises and the Self-Employed Regulations,

hereinafter referred to as "the principal regulations".

In regulation 2 of the principal regulations immediately

after the definition "eligible costs" there shall be added the following

new definition

" "family business" shall have the meaning

assigned to it by the Family Business Act;".

Immediately after the words "shall not exceed fifty

thousand euro (€50,000) over any period of three consecutive years,

under the terms and conditions specified in the Guidelines:" in the

third proviso to sub-regulation (1) of regulation 3 the principal

regulations, there shall be added the following new proviso

"Provided further that from year of assessment 2018, a

family business may be granted a total amount of tax credits in

terms of this regulation that shall not exceed fifty thousand euro

(€50,000) over any period of three consecutive years, under the

terms and conditions specified in the Guidelines:".

€0.09