[ S.L. 463.33 RENT SUBSIDY 1 SUBSIDIARY LEGISLATION 463.33 RENT SUBSIDY REGULATIONS 1st February, 2020 LEGAL NOTICE 187 of 2020, as amended by Legal Notices 375 of 2022, 80 of 2024 and 91 of
- The title of these regulations is Rent Subsidy Regulations. Citation.
- requires: In these regulations, unless the context otherwise Interpretation. "the Act" means the Malta Enterprise Act; Cap.
- "the Corporation" established under the Act; means the Malta Enterprise "eligible undertaking" means an undertaking as defined in the Act that meets the parameters established in 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 eligible undertaking requires support to rent or acquire industrial premises for developing a business activity, the Corporation may provide assistance in the form of cash grant and, or tax credits not exceeding fifty percent (50%) of the eligible costs, in accordance with the terms and conditions set out in the Guidelines. The Corporation shall only consider assistance to cover the cost for the rental or acquisition of industrial premises when the request for support is submitted to the Corporation within the parameters established in the Guidelines. Assistance to support eligible undertakings. Substituted by: L.N. 375 of 2022; L.N. 91 of
- 3A. The value of assistance being awarded in accordance with these regulations shall be limited to three hundred thousand euro (€300,000) over any rolling period of three
(3)years for every undertaking. Any assistance approved shall be disbursed in equivalent amounts not exceeding fifty thousand euro (€50,000) per annum over a period of six
(6)years, of which the first three
(3)years shall be in the form of cash grants and the subsequent three
(3)years in the form of tax credits. Form of assistance. Added by: 3B.
(1)An undertaking benefiting from tax credits in terms of these regulations and the respective Guidelines, shall be entitled to deduct from the amount of income tax which is due on its chargeable income derived from its trade or business in the years of assessment following the award of the benefit an amount equivalent to the tax credit awarded. Utilisation of tax credits. Added by: L.N. 375 of 2022.
(2)An undertaking that in any year of assessment does not L.N. 375 of 2022. Substituted by: L.N. 91 of 2025. 2 [ S.L. 463.33 RENT SUBSIDY utilise any tax credit awarded or deducts a value from the amount of income tax which is due on its chargeable income derived from its trade or business, that is less than the tax credit awarded shall carry forward the unutilised tax credit for that year of assessment or for subsequent years.
(3)Tax credits awarded in terms of these regulations and the respective Guidelines shall not give rise to a right to a refund of tax. Deadline for submission of applications for assistance. Amended by: L.N. 375 of 2022. Substituted by: L.N. 80 of
- The Corporation shall establish application submission periods. The application periods shall be published on the Corporation’s website. No assistance shall be granted by the Corporation in accordance these regulations after 31st December 2030.