Be the first to comment!Wage supplement scheme will be based on business losses
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The Government has announced what it says is, “a new and fairer system of the Wage Supplement Scheme,” as announced in the Budget 2021.
It explained that as of January, the amounts of the wage supplement will be calculated according to the difference in turnover over six months between March and October 2019, against turnover declared between the same months in 2020.
This change is being worked out on VAT declarations, through an agreement reached with the VAT department and will cover between January and March this year, the Government said.
The Scheme is also now including replacement of employees as long as the original number of employees as at end of May is not exceeded. These will be eligible for the wage supplement from October 2020.
It is estimated that the scheme will cost the Government around €40 million per month.
Further details are available on Malta Enterprise by clicking here.
