Here’s How Malta’s New Wage Supplement Scheme Will Work
Malta’s new wage supplement scheme will now subsidise companies based on the losses they incurred during the COVID-19 pandemic, rather than what category they appertain to.
This was announced during a press conference addressed by Enterprise Minister Miriam Dalli and head of Malta Enterprise Kurt Farrugia.
The extent of losses incurred will be calculated by comparing companies’ present VAT returns to those of 2019.
- Businesses that witnessed a 55% (or more) loss will be entitled to €800 per month for full timers and €500 per month for part timers
- Those that witnessed a drop between 45% and 54% will be entitled to €640 per month for full-timers and €400 per month for part-timers
- Those that witnessed a drop between 35% and 44% will be entitled to €480 per month for full-timers and €300 per months for part-timers
- Those that witnessed a drop between 25% and 34% will be entitled to €320 per month for full-timers and €200 per month for part-timers
- Finally, those that witnessed a drop between 10% and 24% will be entitled to €160 per month for full-timers and €100 per month for part-timers
Companies that incurred a loss of less than 9% will no longer be eligible for the wage supplement scheme.
Businesses that had to close down following the issuance of legal notices, such as bars, will receive the wage supplement at its maximum rate, i.e. €800 per month for full-time workers.
The new wage supplement scheme will also cover workers that replaced other workers, back-dated from October 2020. Minister Dalli said that the scheme is an investment of around €40 million per month.