Business Advisory Services Regulations, 2018

L.N. 314 of 2018

MALTA ENTERPRISE ACT

(CAP. 463)

Business Advisory Services Regulations, 2018

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, has made the following regulations:-

(1) The title of these regulations is Business Advisory Citation and

commencement

Services Regulations, 2018.

(2) These regulations shall be deemed to have come into force

as from the 1st January 2018.

In these regulations, unless the context otherwise requires

Interpretation.

"the Act" means the Malta Enterprise Act;

"the Corporation" means Malta Enterprise established under the

Act;

"eligible undertaking" means an undertaking as defined in an Act

that meets the parameters established in the Guidelines;

"the Guidelines" means such guidelines as may be published by

the Corporation from time to time in terms of the Act.

Where the Corporation is satisfied that the undertaking is an Assistance to

eligible undertaking, the Corporation may provide assistance up to a support

undertakings.

value of two thousand five hundred euro (€2,500) to such undertakings

to cover the cost of advisory services acquired from third parties in

accordance with the terms and conditions set out in the Guidelines.

The Corporation may award assistance under these Form of Aid.

regulations in the form of a cash grant or a tax credit.

The tax credit referred to in this regulation shall be due as a Tax credits.

deduction from tax payable by an undertaking on its chargeable

income derived from its trade or business for that year of assessment

established in accordance with the terms and conditions set out in the

Guidelines, and, where the tax credit, for that year of assessment,

exceeds the income tax payable by such an undertaking for that year,

the excess in the tax credit shall be allowed to be carried forward to

the subsequent year of assessment and deemed to be a tax credit for

that year

Provided that a tax credit shall not give rise to a right to a

refund of tax

Provided further that any tax credits shall be utilized by the

year of assessment established 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 December 2020.

€0.18