Home
Property
Contact
Show Menu
Immigration
Investor Immigration in Malta
Citizenship of Malta
Residence in Malta
Property
Property
Interest
About Malta
Employment
Finance
Law
Maritime
Taxation
Gov Budgets
Industry
Digital Gaming in Malta
Financial Services in Malta
Banking
Insurance
Investment Business
Gaming in Malta
ICT
Manufacturing
Shipping
Ship Management
Ship Registration in Malta
Ship Services
Moving to Malta
Contact
Malta Fiscal Incentives for Entrepreneurs - Budget 2003
Malta Fiscal Incentives for Entrepreneurs - Budget 2003
December 03
08:46
2015
by The Editor
Print This Article
2003
MEASURES THAT BENEFIT ENTREPRENEURSHIP
Small Enterprises
Currently:
Simplification measures aimed at self employed & small enterprises that employ an average of 5 persons & with a turnover not exceeding Lm100,000:
Costs of informatics constitutes a deduction from the profits of small enterprises in that year.
Income tax exemption on profits realized in years 2002-2004 where such profits are reinvested in new projects, purchase of new machinery, etc. in order to increase & develop the business:
VAT refunds due to small enterprises will be made within 30 days from the date of the VAT returns provided that these are sent on time.
Measure:
Above advantages are extended to enterprises that employ an average of 5 persons and whose turnover does not exceed Lm250, 000.
Access to information systems
Measure:
Assistance Scheme to give self-employed full access to information systems facilitating communication with Departments & other public orgs - exemptions of fees & free training.
Incentives for Research
Aim:
Encourage R&D conducted with purpose of creating & improving products, processing methods materials & other equipment.
Measure:
150% availability to business of R&D expenditure as a deduction for income tax purposes.
Back to Budget 2003 Index