Launch Of Revised COVID-19 Wage Supplement Scheme

At a press conference held yesterday, 5th January 2021, the Government announced details of a revision of Malta's Wage Supplement scheme, which will see Covid-19 business aid no longer be calculated on the basis of an entity's NACE categorisation, but on loss of turnover. This is a key change in approach and likely to impact many businesses locally.

A new method for calculating wage support for businesses hit by the pandemic had in fact been announced in the 2021 Budget, relative to which further details were given during yesterday's press conference. The support level will be calculated according to the difference in turnover declared by a business over a six-month period between March and October 2019, against turnover declared over the six months between March and October 2020, and shall be determined as follows: