Tax Credits: Supporting Hotels & Restaurants Refurbishment
This scheme will be accepting project applications for the refurbishment of hotels and restaurants that would lead to an improved tourism product or service. This scheme is eligible until 28th November 2019.
Assistance shall be awarded in relation to the costs incurred for the implementation of a holistic refurbishment of an establishment duly licensed with the Malta Tourism Authority where the main activity is:
- The provision of tourist accommodation in hotels, guest houses, and hostels
- The provision of food services from a permanent structure whereby the prepaid food may be consumed on the premises
The eligible cost shall be:
- Design cost which may not exceed 5% of total project costs
- Replacement of finishes, furniture, fittings, and equipment. The replacement must be new (or the first time used in Malta).
All costs, excluding costs related to design, should be incurred after the project is approved by the Corporation.
The Corporation may approve a tax credit of up to €200,000 for accommodation providers and €50,000 for the provision of food services covering up to 20% of the eligible costs. Assistance for a single undertaking does not exceed the amount of €200,000 over any period of three consecutive fiscal years.
Visit our Grant Scheme Brochure: here