Micro Investment (Amendment) Regulations, 2021

L.N. 211 of 2021

MALTA ENTERPRISE ACT

(CAP. 463)

Micro Investment (Amendment) Regulations, 2021

IN EXERCISE of the powers conferred by article 5 of the Malta

Enterprise Act, the Minister for Energy, Enterprise and Sustainable

Development, after consultation with the Malta Enterprise Corporation

and with the concurrence of the Minister for Finance and Employment,

has made the following regulations:-

(1) The title of these regulations is the Micro Investment Citation and

(Amendment) Regulations 2021 and these regulations shall be read commencement.

and construed as one with the Micro Investment Regulations, S.L. 463. 09.

hereinafter referred as the "principal regulations".

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

on 1 st March 2021.

Regulation 3 of the principal regulations shall be amended Amends

as follows

(a) sub-regulation (1) thereof shall be substituted by the

following new sub-regulation

"(3) Where the Corporation is satisfied that an

undertaking carrying out a trade or business requires

assistance to expand, innovate or invest in its business in

Malta, the Corporation may provide such an undertaking

with a tax credit. The intensity of the tax credit shall be in

accordance with the terms and conditions set out in the

guidelines

Provided that the total amount of tax credits

that may be granted in terms of this regulation shall not

exceed fifty thousand euro (€50,000) over any period of

three (3) consecutive years under the terms and conditions

specified in the guidelines

Provided further that undertakings established

in Gozo, female owned undertakings and family

businesses as may be defined in the guidelines, may be

granted a total amount of tax credits in terms of this

regulation that shall not exceed seventy thousand euro

(€70,000) over any period of three (3) consecutive years,

under the terms and conditions specified in the

guidelines;

Provided further that the total amount of de

minimis aid awarded to a single undertaking may not

exceed two hundred thousand euro (€200,000) (or one

hundred thousand euro [€100,000]) in case of

undertakings performing road freight transport for hire or

reward) over any period of three (3) consecutive fiscal

years."; and

(b) sub-regulation (7) thereof shall be substituted by the

following new sub-regulation

"(7) No assistance under these regulations shall be

granted by the Corporation after 31 st December 2023.".

€0.18