TAX CREDITS FOR RESEARCH AND DEVELOPMENT AND INNOVATION REGULATIONS

TAX CREDITS FOR RESEARCH

AND DEVELOPMENT AND INNOVATION

SUBSIDIARY LEGISLATION 463.15

TAX CREDITS FOR RESEARCH AND DEVELOPMENT

AND INNOVATION REGULATIONS

1st January, 2017

LEGAL NOTICE 153 of 2017.

The title of these regulations is the Tax Credits for R&D

Innovation Regulations.

In these regulations, unless the context otherwise

requires

"the Act" means the Malta Enterprise Act;

"the Corporation" means Malta Enterprise established under

the Act;

"the Guidelines" means such guidelines as may be published

by the Corporation from time to time in terms of the Act;

The term "single undertaking" shall have the meaning

attributed to it by Commission Regulation (EU) No. 1407/2013 of 18

December 2013 on the application of Articles 107 and 108 of the

Treaty on the Functioning of the European Union to de minimis aid

(the de minimis Regulation)

"Small and Medium Sized Enterprises" (SMEs) shall include

any "medium-sized undertaking", "small undertaking" and "micro

undertaking" having the meaning attributed to them by Annex I of

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;

"Experimental Development" shall

have

the

meaning

attributed to it in the Incentive Guidelines.

Where the Corporation is satisfied that an undertaking

employs a person holding or reading a doctoral degree in one of the

areas specified in the Incentive Guidelines, the Corporation may

assist such an undertaking by means of a tax credit in accordance

with the terms and conditions set out in the Guidelines.

Any assistance that may be provided under these

regulations shall be in conformity with Commission Regulation (EU)

No. 1407/2013 of 18 December 2013 on the application of Articles

107 and 108 of the Treaty on the Functioning of the European Union

to de minimis aid (the de minimis Regulation).