1,842 businesses benefited from Microinvest
The Microinvest scheme has seen 1,842 beneficiaries, Minister for Finance, the Economy and Investment Tonio Fenech said whilst visiting Gesco Signs in Gzira.
Mr Fenech explained that this has resulted in the creation of 786 new jobs. All the beneficieries will benefit from a tax credit which will see a total of €15 million held, the Minister announced, adding that this covers up to 40% tax credit in Malta and 60% tax credit in Gozo to a €25,000 maximum.
Minister for Fair Competition, Small Business and Consumers Jason Azzopardi, who was also visiting the company, stated that 25,000 new jobs will be created in the coming five years should the PN be elected. He mentioned that Gesco Signs, which benefited from a €25,000 tax credit, was a prime example of a successfull enterprise which made use of the Microinvest scheme.
Jason Azzopardi mentioned another scheme which allows certain people to be tax exempt for two years when starting up a new business.