S.L. 463.40 Art. 5Formofassistance.

(1) An undertaking carrying on or intending to carry out a qualifying activity that may contribute to the economic development of Malta, shall be assisted by means of a tax credit (which may be claimed against future tax bills) or a cash grant calculated as a percentage of the qualifying expenditure subject to the terms and conditions of the guidelines.

(2) Cash grants may only be awarded to eligible projects for which an application is submitted and approved before start of works.

(3) The assistance shall be calculated as a percentage of:

(a) the qualifying eligible expenditure as established in the guidelines incurred by an undertaking in respect of an eligible project for the carrying out of a qualifying activity; or

(b) wage costs for jobs directly created as a result of the eligible project as shall be further specified in the guidelines.