Jul
16

Undertakings with Links to Tax Havens not to Receive State aid

News_Mamo
The European Commission ('Commission') has issued a recommendation to Member States that undertakings with links to tax havens (see list ) and/or undertakings that have been convicted of serious financial crimes should not be beneficiaries of any state aid. The aim behind this recommendation is to avoid the misuse of public funds and to strengthen safeguards against tax abuse and financial crime throughout the Union. Nevertheless, it ought to be noted that the recommendation does not absolutely prohibit every undertaking with a link to a listed non-cooperative jur...
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569 Hits
Jun
15

Government Issues an Updated Wage Supplement Scheme

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On Monday 8th June 2020, the Maltese Government announced another financial aid package aimed at economic regeneration. Amongst the numerous measures put in place to assist businesses in recovering from the impact caused by the COVID-19 pandemic, the Government announced an updated Wage Supplement Scheme which is to take effect from July 2020 up until September 2020. In terms of the said updated Wage Supplement Scheme, those businesses which operate in the areas of tourist accommodation, air transport, event organization, travel agencies and language schools will ...
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  801 Hits
801 Hits
May
19

Commission approves Malta’s state aid scheme to support investments in the production of coronavirus-relevant products

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On 12 May 2020, the European Commission approved an €11.5 million state aid scheme to support investments in the production of coronavirus-related products such as vaccines, personal protective equipment, and ventilators. Undertakings operating in sectors related to the production or the diversifying of products related to the coronavirus outbreak may benefit from this scheme through direct grants, repayable advances, and tax advantages. However, beneficiaries must complete investments projects in this regard within six months after receiving the aid. The scheme w...
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682 Hits
Apr
28

MCCAA Launches Consultation on Proposed Amendments to Consumer Affairs Act

News_Mamo
On 22 April 2020, the Malta Competition and Consumer Affairs Authority (the "MCCAA") published a consultation regarding a Bill to amend the Consumer Affairs Act (Chapter 378 of the laws of Malta) and other Laws, and to make ancillary and consequential provisions thereto. The proposed Bill aims to implement Regulation (EU) 2017/2394 on cooperation between national authorities responsible for the enforcement of consumer protection laws and repealing Regulation (EC) No 2006/2004, which lists the minimum investigation and enforcement powers of the competent authoritie...
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732 Hits
Apr
28

Malta’s Employment Aid Scheme Approved

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On 24 April 2020, the European Commission approved Malta's €215 million wage subsidies scheme, which aims to prevent unemployment and to support undertakings that operate in sectors that have been greatly affected by the current outbreak. The notified aid comprises a scheme to finance wage costs of employers that would have otherwise had to lay off their employees as a result of COVID-19. Any undertaking, including self-employed individuals, hit hard by the pandemic may benefit under this scheme. Beneficiaries will receive aid that is proportional to their salary,...
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  848 Hits
848 Hits