The submission deadline for the MicroInvest Scheme 2015 application with respect to qualifying expenditure incurred during 2015 has been extended to 30 November 2016 for eligible small undertakings. The original deadline was 30 March 2016.
This scheme entitles eligible small undertakings to a tax credit amounting to 45% (or 65% for undertakings operating from Gozo) of qualifying expenditure incurred during 2015. Such tax credits can be offset against the tax due by such undertakings derived from their trade or business. In the case of applications submitted by the extended deadline of 30 November 2016, the tax credits may only be utilised as from year of assessment 2017.