The Government said that its plan is based on three pillars:
1. Reduction in expenses for businesses’;
2. Support for families; and
3. Incentives for consumption.
To relieve the companies that have suffered from the COVID-19 crisis, the plan includes:
- Continued Wage supplement - ranging between €600 - €800 grants depending on the businesses’
- Rental Expenses up to €2,500 to cover their rental expenses for July, August and September. Payment for licenses to the Trade Department and the MTA will be waived. This includes hawkers, costermongers, tourist guides, restaurants and hotels.
- Utility Tariffs - For the summer months of July, August and September, government will be paying 50% of commercial utility bills, capped at €1,500 per applicant
- Microinvest - 30% of credits being given to companies, transmuted to cash grants
Other incentives include modernization of business models, internal skills development, trade fair refunds, export grants and advertising.
The Maltese government will also put in place measures for individuals, namely: vouchers to encourage local spending, tax refunds, and a reduction in property taxes.
For more information, please contact Rishi Bonello: r.bonello@rosemont.com.mt
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