Get qualified extended to support more industries
Building up on its success in assisting more than 2,000 students with over €7.7 million in tax credits, the Get Qualified scheme administered by Malta Enterprise is being expanded to support students and other individuals obtain qualifications required by a wider range of industries.
Upon successful completion of their course, supported students are granted a tax credit which may enable them to recover up to 80% of their expenses in relation to registration fees, examination fees, as well as fees paid to the university, institution or recognised educational entity.
In this manner, as a result of the qualifications obtained, students would be better equipped to grasp career opportunities and invest in further development within those industries showing a higher potential economic growth.
Following the amendments to the scheme, studies leading to a certificate, diploma, degree or post-graduate degrees within industries such as advanced manufacturing; maritime; energy, oil and gas; and life sciences (including health services and veterinary services) will now be supported.
Engineering courses, for which support was previously limited to electromechanical engineering, is now being widened to include other aspects of engineering.
This will complement the existing support covering courses related to aviation; economics and statistics; financial services; crafts and creative industries; chemical and pharmaceutical industries; information and communication technologies.
A significant amendment is also being introduced in respect to studies at a doctoral or post-doctoral level, whereby the Get Qualified scheme will now support all students irrespective of their area of specialisation.
Minister of Finance, the Economy and Investment Tonio Fenech commented that these amendments will allow more students to continue investing in their education, particularly within the areas covering the pillars of Government’s Vision for 2015 and beyond. “Government is investing significantly in bringing further investment and better quality jobs to our shores. We are investing heavily in quality infrastructure – such as the Safi Aviation Park and the Bio Malta Campus. Coupled with the right incentives, Malta is attracting a steady flow of opportunities in a number of diverse economic sectors. At the same time, it is crucial that we equip our people with the best skills and resources so as to benefit from the exciting opportunities being created in these sectors. This creates a win-win situation as Malta becomes more attractive to potential investors, while ensuring the creation of better jobs for our people”.
Students have to submit their applications by not later than twelve months from the commencement of their course to be eligible for the tax credit, which is capped depending on the level of qualification or certification being obtained – with higher amounts being granted to those obtaining more advanced qualifications.
In recent years, Malta Enterprise has assisted around 3,500 students with almost €14 million in tax credits to further their studies and consequently improve their skills and employability through Get Qualified and similar schemes. Many students who were supported are today contributing to the Maltese economy by lending the skills and knowledge acquired to various enterprises in Malta.