167 tal-2023 - Regolamenti tal-2023 dwar l-Iżvilupp tal-Ħiliet

L.N. 167 of 2023

MALTA ENTERPRISE ACT

(CAP. 463)

Skills Development Regulations, 2023

IN EXCERCISE of the powers conferred by article 5 of the

Malta Enterprise Act, the Minister responsible for Malta Enterprise

with the concurrence of the Minister of Finance has made the

following regulations:-

The title of these regulations is the Skills Development

Regulations, 2023.

In these regulations, unless the context otherwise requires

"Act" means the Malta Enterprise Act;

"Corporation" shall have the same meaning as assigned to it

in the Act;

"Guidelines" means the Guidelines as may be published by

the Corporation from time to time in accordance with the Act,

establishing the parameters of implementing the aid granted by

virtue of these regulations;

"large undertaking" means any enterprise that does not

qualify as a small undertaking or a medium-sized undertaking;

"medium-sized undertaking" shall have the same meaning

as assigned to it in Annex I of the Commission Regulation (EU)

No 651/2014 of 17 June 2014 declaring certain categories of aid

compatible with the internal market in application of Articles

107 and 108 of the Treaty, as amended;

"small undertaking" shall have the same meaning as

assigned to it in Annex I of the Commission Regulation (EU) No

651/2014 of 17 June 2014 declaring certain categories of aid

compatible with the internal market in application of Articles

107 and 108 of the Treaty, as amended;

"undertaking" shall have the same meaning as assigned to it

in the Act.

(1) When the Corporation is satisfied that an undertaking Assistance for

carrying out or intending to carry out an activity that may contribute to the

of training

the economic development of Malta, requires assistance to increase the programs.

skills and knowledge of its employees in relation to the requirements

of their employment through training, the Corporation may provide

such an undertaking with a tax credit or a cash grant or a combination

of both, in accordance with the terms and conditions set out in the

Guidelines;

(2) No cash grants shall be due in respect to training that

commences prior to the formal approval from the Corporation.

(1) Any assistance provided in accordance with these Maximum aid.

regulations 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.

(2) The maximum aid for each skills development project shall

not exceed two million euro (€2,000,000).

(1) An undertaking benefitting from tax credits in Utilisation of

accordance with these regulations and the respective Guidelines shall tax credits.

be entitled to deduct from the amount of income tax, which is due on

its chargeable income derived from its trade or business in the years of

assessment immediately following the award of the benefit, an amount

equivalent to the tax credit awarded to it.

(2) An undertaking that, in any year of assessment, does not

utilise any tax credit awarded to it or deducts a value from the amount

of income tax which is due on its chargeable income derived from its

trade or business that is less than the tax credit awarded to it, shall

carry forward the unutilised tax credit for the subsequent years of

assessment.

(3) Tax credits awarded in accordance with the regulations and

the respective Guidelines shall not give rise to a right to a refund of

tax.

(1) The Corporation shall establish a deadline for the Deadline for

submission of

submission of applications in the Guidelines.

applications for

aid.

(2) No aid shall be granted in accordance with these

regulations by the Corporation after the 31st of December 2023.

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