Tax Credits supporting the Refurbishment of Hotels and Restaurants

November 21, 2019 | 3 minute read

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The tourism industry is one of the pillars of the Maltese economy. To support the development and modernisation, investment in this industry is of utmost importance.
In this regard, Malta Enterprise has announced the issuance of a new scheme which aimed at incentivising businesses to invest in the refurbishment of hotel accommodations and restaurants.
This scheme is granted in the form of tax credits based on investment by businesses towards the refurbishment of hotels and restaurants.
Tax credits are calculated at the rate of 20% of the eligible investment which includes:
  • Design Costs;

  • Replacement of Finishes;

  • Furniture and Fittings and

  • Expenses for the Redecoration of Establishments.

Aid provided under this incentive falls within the deminimis regulations.
Tax credits awarded under this scheme are capped at €200,000 for providers of accommodation and €50,000 for the provision of food services.
Businesses interested in this scheme are required to file an application with Malta Enterprise by 28th November 2019.
Works on the refurbishment of the establishment should start only after Malta Enterprise has approved the project.
Nexia BT can advise and assist qualifying investors in the preparation and submission of the relative applications. We will ensure all applications are submitted to the competent authority for the attainment of the tax credit.

Why choose Nexia BT?

Established by Brian Tonna, managing partner, Nexia BT is a corporate and private client advisory, audit, accounting and tax firm. Our clients are local and international financial and other institutions, SMEs, high-net-worth-individuals, the public sector and high-end organisations.

As a reputable organisation of over 25 years standing and forming part of a worldwide network of independent business advisors, consultants, auditors and accounting firms present in over 115 countries, we are optimally positioned to offer global expertise.

Along these years, we have built client loyalty around a credible reputation for delivering results whilst working to the highest professional standards.

Nexia BT’s strength lies in the technically competent staff with experience across a varied range of industry sectors. We deliver solutions to our clients through a high calibre customised service reflected in the professional work approach and ethics of our staff and driven by our ethos ’Closer to you’. With the backing of this business approach, we confidently present you Nexia BT as your trustworthy, dependable and reliable partner in Malta.

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Antoinette Scerri
Tax Advisory Services
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Stephanie Bianco 
Tax Advisory Services
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