MT
SKILLS DEVELOPMENT REGULATIONS
Table of Provisions (8)
Statutory Text (8 Articles)
SKILLS DEVELOPMENT
SUBSIDIARY LEGISLATION 463.28
SKILLS DEVELOPMENT REGULATIONS
1 st September, 2018
LEGAL NOTICE 15 of 2019, as amended by Legal Notice 152 of
2020.
The title of these regulations is Skills Development
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;
"eligible costs" means that expenditure that may qualify
for assistance in terms of these regulations and as shall be
further 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;
"large undertaking" means any enterprise that does not
qualify as a "small undertaking" or a "medium-sized
undertaking";
"medium-sized undertaking" shall have the meaning
attributed to it by Annex I of Commission Regulation (EU) No
651/2014 of 17 June 2014;
"small undertaking" shall have the meaning attributed to
it by Annex I of Commission Regulation (EU) No 651/2014 of
17 June 2014;
"undertaking" means an undertaking as defined in the
Act.
Where the Corporation is satisfied that an undertaking
carrying out or intending to carry out an activity that may contribute to
the economic development of Malta, requires assistance to support to
provide training to employees in relation to their employment, the
Corporation may provide such an undertaking with a tax credit or a
cash grant, in accordance with the terms and conditions set out in the
Guidelines.
An undertaking shall only qualify for the assistance
provided by these regulations if such undertaking employ at least five
(5) persons on a full time basis and meets any additional criteria that
SKILLS DEVELOPMENT
shall be established in the Guidelines.
(1)
Any assistance provided in terms of these
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 support per skills development project
shall be of two million euro (€2,000,000).
The tax credit referred to in these regulations shall be due
as a 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 on chargeable income derived from
trade or business for that year of assessment, 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.
No assistance under these regulations shall be awarded
by the Corporation after 31 st December 2022.