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Training and Employment

These tax credits encourage specialisation in the fields of science and technology and facilitate the employment of highly qualified and specialised personnel.

Tax Credits are available to support enterprises financing the studies of employees at a post-graduate level and also to individuals who embark on such personal development on their own initiative. Further tax credits support the employment of additional employees holding an approved qualification (2'd degree, higher or equivalent) in a relevant role.

This incentive applies only to courses and qualifications approved by Malta Enterprise. Approved qualifications generally reflect expertise in demand by local industry, including specialised vendor-specific qualifications in ICT.

The focus is currently in the application of science, technology and engineering as well as information and communication technologies (ICT).

 

Benefits - Eligible Investments for enterprises

·  17.5 % Tax Credits additional to standard deductions on tuition costs and wages of employees having their studies financed by the enterprise. 

· The company's share of the employee's social security contribution for the first 36 months of employment when recruiting additional highly qualified employees holding approved qualifications in a relevant post.

 

 Benefits - Eligible Investments for individuals

100 % Tax Credits  in addition to standard deductions on the tuition costs of successfully completed approved course.

 

Application Process
Applicants (enterprises or individuals) are required to complete the relevant 'Tax Credit Application form' and submit it to Malta Enterprise. Malta Enterprise will review the application and notify the applicant of the maximum eligible value. Once an approved course of studies is completed, applicants are to submit documentation and other evidence of successful completion. 

General Information

· Qualifying expenditures must be incurred as from 1 January 2005.

· Unutilised tax credits may be carried forward.

· This incentive will remain available until fiscal year 2008 (subject to budget).

· Courses should not exceed 36 months.

· Applications must be in accordance with and subject to the provisions of rules, under L.N. 335 of 2005

 

Legal Notice 335 of 2005

Professional Capacity Building Tax Credit

Application Form - Individuals

incentives

myPotential

 

The myPotrntial initiative provides a specific grouping of information technology courses which can be supported under the Professional Capacity Building Tax Credits.

 

A specific application form is available for applicants following courses under this initiative.

 

myPotential Application Form

 

Further details on myPotential

Application Form - Employer