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It aims to achieve this by encouraging the adoption of electric vehicles for business purposes, including both goods transportation and commuting.
How this scheme can assist enterprises is by facilitating the procurement, installation, and activation of private charging infrastructure equipped with smart charging capabilities. This infrastructure is crucial for recharging the commercial vehicles owned by the entity. Support can be provided through two methods:
Cash Grants: These grants cover up to 100% of the interest paid during the first three years on a loan obtained from the Malta Development Bank or a recognized financial institution to fund eligible costs.
Tax Credits: Calculated as a percentage of eligible costs incurred. For large enterprises, the aid intensity is 20% of eligible costs, which can be increased to 40% for medium-sized entities. Small enterprises can benefit from support equivalent to a maximum of 50% of eligible costs incurred.
Additionally, Malta Enterprise supports the leasing of clean commercial vehicles powered at least partially by electricity, hydrogen, or zero-emission technology. The aid intensity for leasing varies based on the type of vehicles. Generally, large enterprises receive a tax credit ranging from 20% to 30% of eligible costs, while Small and Medium Enterprises can benefit from a range of 50% to 60% and 40% to 50%, respectively.
If you’re interested in making your business more environmentally friendly and sustainable, feel free to partner with us at Grant Thornton. We’re here to help you go beyond!
