MT
BUSINESS DEVELOPMENT 2021 REGULATIONS
Table of Provisions (7)
Statutory Text (7 Articles)
BUSINESS DEVELOPMENT 2021
SUBSIDIARY LEGISLATION 463.38
BUSINESS DEVELOPMENT 2021 REGULATIONS
1 st January, 2021
LEGAL NOTICE 53 of 2021.
The title of these regulations is Business Development
2021 Regulations.
In these regulations, unless the context otherwise
requires
"Act" means the Malta Enterprise Act;
"Corporation" means Malta Enterprise established under
the Act;
"eligible undertaking" means the same as the meaning
assigned to it by the Guidelines;
"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 an undertaking
carrying on or intending to carry out an activity which will contribute
to the regional development of Malta, requires assistance to set up
business development projects, the Corporation may award such an
undertaking, aid in the form of tax credit or cash grant that may not
exceed two-hundred thousand euro (€200,000) over a period of three
(3) fiscal years in accordance with the terms and conditions set out in
the Guidelines.
(1)
An undertaking shall only qualify for a cash grant
or tax credits if such projects relate to future development and
contribute to the regional development of Malta in the following
activities
(a)
manufacturing;
(b)
management
of
waste
and
environmental
solutions;
(c)
research and development activities;
(d)
provision of industrial services and solutions to
manufacturing operations;
(e)
digitisation of processes;
(f)
development of digital service and systems
(including video games and entertainment systems) intended
for international markets;
BUSINESS DEVELOPMENT 2021
(g)
maintenance, repair and overhaul of aircraft and
other electro-mechanically equipment;
(h)
artisanal works;
(i)
services that by their nature are not limited to
geographic scope and are scalable internationally.
(2)
Projects that do not address the above activities but
which may lead to increase in business performance and innovation,
may be supported through tax credits.
The approved financing shall be directly related to the
operation of the undertaking in accordance with the terms and
conditions set out in the Guidelines.
(1)
Applications for assistance shall be submitted to
the Corporation by not later than 31 st October, 2023.
(2)
No aid shall be granted under these regulations by the
Corporation after 31 st December 2023.