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Malta Enterprise Act (Amendment of Various Regulations) Regulations, 2015

A new regulation has been published wherein various deadlines have been established relating to the following regulations. In brief, most of the incentives stated in the following regulations shall no longer be available.

Investment Aid Regulations

The deadline for submissions of applications for assistance under this regulation has been established as the 30th June, 2014.

Assistance to Small and Medium-Sized Undertakings Regulations

As from the 1st July 2014, the definitions of “large undertaking”, “medium-sized undertaking”, “small undertaking” and “micro undertaking” have been amended. The definition of these undertakings shall have the meaning attributed to them by Annex 1 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 (General block exemption Regulation).

Deadlines

The deadline for submissions of applications for assistance for the development of a new business by a small or medium-sized start-up undertaking has been established as the 30th June 2014.

The deadline for submissions of applications for assistance to small sized start-up undertakings has been established as the 31st December 2013.

The deadline for submission of applications for assistance for innovation has been established as the 31st December 2013.

The deadline for submission of applications for assistance of experts has been established as the 30th June 2014.

The deadline for submission of applications for assistance to participate in fairs and exhibitions has been established as the 30th June 2014.

The deadline for submission of applications for assistance in the preparation and submission of proposals for participation in projects funded by the FP7 or CIP has been established as the 31st August 2013.

The deadline for submission of applications for improvement in the quality of products has been established as the 31st December 2013.

The deadline for submission of applications for assistance for the use of ICT and e-business has been established as the 31st December 2013.


Enterprise Support Incentives Regulations

As from 26th October 2012, the ‘Treaty” means the Treaty on the Functioning of the European Union published in the Official Journal of the European Union in the edition of the 26th October 2012.

No tax credits shall be given to undertakings carrying on or intending to carry out a commercial activity which require assistance to restore protected buildings.


Deadlines

The deadline for granting cash grants to undertakings in difficulty has been established as the 31st December 2013.

The deadline for submission of applications for assistance to participate in trade fairs, trade missions and other such events, has been established as the 31st January 2013.

The deadline for submission of applications for assistance for the engagement of advisors has been established as the 31st March 2014.

The deadline for submission of applications for assistance for the development of international competitiveness has been established as the 31st December 2013.

The deadline for submission of applications for assistance for the reduction of impact on the environment has been established as the 31st December 2013.

The deadline for submission of applications for tax credits to undertakings for digital applications development has been established as the 31st December 2013.


Cash Grants

Where the Corporation is satisfied that an undertaking carrying on or intending to carry out an activity that may contribute to the economic development of Malta, requires assistance to develop the international competitiveness of the undertaking or for the participation in trade fairs, trade missions and other such events, the Corporation may provide such an undertaking with a cash grant which shall not exceed fifty per cent (50%) of the eligible costs incurred in accordance with the terms and conditions set out in the Guidelines. Applications in this regard shall be submitted by not later than the 31st December 2017.

Cash grants relating to assistance for collaboration with other undertakings shall not exceed the limits set out in the De Minimis Rule stipulated in regulation 18.

Where the Corporation is satisfied that an undertaking carrying on or intending to carry out an activity that may contribute to the economic development of Malta, requires assistance of advisors in a particular field, the Corporation may provide such an undertaking with a cash grant which shall not exceed the amount of two thousand five hundred euro (€2,500) per annum in accordance with the terms and conditions set out in the Guidelines. Applications in this regard shall be submitted by not later than the 31st December 2013.