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Rent Subsidy Regulations published

Rent Subsidy Regulations published

Through the publication of the Rent Subsidy Regulations, eligible undertakings can benefit from up to €25k subsidy p.a. to cover rental cost.

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Through Legal Notice 187, new Rent Subsidy Regulations were published, which Regulations came into effect as from 1 February 2020. The Regulations provide for subsidy assistance to eligible undertakings requiring support to rent industrial space for developing a business activity. The aid shall not exceed €25,000 per annum and shall cover up to 50% of the cost  of the rental. The scheme is administered by Malta Enterprise. The Regulations make reference to terms and conditions set out in Guidelines, yet to be published by Malta Enterprise. The deadline for submission of applications for assistance is 31 December 2022.

Should you have any queries or wish to discuss further, please send an email to covid@kpmg.com.mt.

Rent Subsidy Regulations published

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

© 2020 KPMG, a Malta civil partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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