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Business Promotion Act

Source: www.maltaenterprise.com
Topic: Promotion

Sort Desciption: The Business Promotion Act in Brief. The Business Promotion Act (BPA) replaces the Industrial Development Act and has been in force since 2001. It ...

Content Inside: Head Office: Malta Enterprise Enterprise Centre Industrial Estate San Gwann SGN 09 Malta. Postal Address: P.O. Box 8 San Gwann SGN 01 Malta. Tel: 2542 0000 / Fax: 2542 3401 www.maltaenterprise.com / e-mail: info@maltaenterprise.com www.maltaenterprise.com The Business Promotion Act in Brief www.maltaenterprise.com 4. Investment Allowances Tax deductions in addition to normal tax depreciation are provided as follows: Plant and machinery - 50% of the investment; Industrial buildings or structures - 20% of the investment. 5. Reduced Rates of Tax on Reinvested Profits The tax on profits that are reinvested in projects approved by Malta Enterprise is reduced by 19.25% from 35% and by 17.5% from 35% in the case of hotel operations. 6. Incentives for Job Creation The creation of new jobs for particular persons (e.g. persons unemployed for more than two years disabled persons etc) would entitle a company to an additional tax deduction based on the wage cost of such persons. 7. Tax Treaties Malta has concluded tax treaties with a number of countries (mainly European but including Canada and Australia) which enhance the incentives provided by Maltese domestic legislation. Most of these treaties ensure that profits generated in Malta are either exempt from tax in the country of residence of the investor or that such a country will provide a tax credit for the Malta tax spared as a consequence of the incentives Malta provides. B. Non-Fiscal Incentives 1. Provision of Immovable Property Malta Enterprise approves the allocation of industrial buildings at competitive rates of rent. 2. Soft Loans Qualifying companies may be assisted by low interest rate loans covering up to 75% of the qualifying expenditure undertaken by the company. 3. Loan Interest Rate Subsidies Alternatively companies may qualify for a subsidy on the interest rate payable on loans taken up from licensed financial institutions to acquire additional assets. 4. Loan Guarantees ...

legislation which affect the business promotions

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