Malta Enterprise has launched applications for two of the government’s economic incentives to combat the incoming recession brought on by the outbreak of the COVID-19 coronavirus.
The first grants a two-month extension to enterprises, including self-employed, to pay Provisional Tax, VAT and National Insurance Contribution on Salaries. The second aims to support teleworking initiatives from local companies, giving out €500 per teleworking agreement and up to €4,000 per undertaking.
The grant will actually be against st 45% of the eligible cost. This call is eligible for costs incurred between 1st March and 30th March 2020. Total support under this call shall be capped at €2M.
Applications for a €350 grant to employers for each employee on quarantine leave will open on Wednesday 25th March.
You can apply for the incentives via the email address firstname.lastname@example.org or by calling 144.
The government’s stimulus package to help businesses deal with the coronavirus crisis has received mixed reviews. Business owners believe it does little to address concerns of potential mass unemployment. Meanwhile, a vast chuck of the €1.81 billion package is dedicated to bank guarantees (€900 million) and tax deferrals (€700 million).
Opposition MP Claudio Grech has even the plan is simply illogical.