Scholarships to employees
- Name of the instrument - Local language
- Scholarships to employees
- Name of the instrument - English translation
- Scholarships to employees
- Country
- Malta
- Type of instrument
- Tax incentive for companies
- Type of entry
- Single instrument
- Short description
A tax deduction of EUR 5 800 is available to employers hiring persons within the age group between 45 and 65 years who have been unemployed for the previous 3 years. This deduction applies for the first 2 years of employment. A further tax deduction of training costs for such employees is also available.
- Short description of the related instruments
nap
- Level of operation
- National
- Name of a part of the country
- nap
- Name of the region (for regional instruments)
- nap
- Name of the sector (for sectoral instruments)
- nap
- Relevance
- Key scheme
- Eligible group(s)
Companies hiring persons within the age group between 45 and 65 years.
- Group(s) with preferential treatment
None
- Education and training eligible
Training that is (a) necessary for the duties of the employment, or (b) directly related to increasing effectiveness in the performance of the employee’s present or prospective duties in the employment, but it need not lead to the employee gaining a higher qualification.
- Source of financing and collection mechanism
State (loss of tax revenue)
company- Financing formula and allocation mechanisms
A tax deduction of EUR 5 800 will apply for the first 2 years of employment of eligible worker. A further tax deduction of 50% of the training costs of the employee up to a maximum of EUR 400 will also be available.
Eligible costs are (a) fees for the course, (b) the cost of essential books and course material. When the employee is temporarily away from his workplace while attending the course, additional expenses also include (a) the additional expenses incurred in travelling to and from the course, and (b) reasonable payments for subsistence whilst on the course.
- Eligible costs
Fees and other costs related to education and training (costs for books, materials, travel, subsistance)
- Volumes of funding
na
- Beneficiaries/take up
na
- Organisation responsible for monitoring/evaluation
Ministry of Education and Employment.
- Monitoring/evaluation reports available
Ministry of Education and Employment
- Most relevant webpage - in English
na
- Most relevant webpage - local language
https://ird.gov.mt/downloads/guides/tax_guide_to_fringe_benefits_jan01… (p. 31)
- Sources
https://ird.gov.mt/downloads/guides/tax_guide_to_fringe_benefits_jan01… (p. 31)