S.L. 123.220 Art. 3Get Qualified tax credit.

An individual may claim a tax credit that shall not exceed seventy percent (70%) of the eligible study costs paid by the individual leading to the attainment of a relevant award. The maximum tax credit awarded to an individual shall be established by the Corporation in the guidance notes which shall not exceed:

(a) one thousand five hundred euro (€1,500) when the relevant certificate is determined by the Corporation to qualify as Vocational Education Training and has been classified by the Malta Further and Higher Education Authority at a Level 3 certificate under the Malta Qualifications Framework;

(b) two thousand five hundred euro (€2,500) when the relevant certificate is determined by the Corporation to qualify as Vocational Education Training and has been classified by the Malta Further and Higher Education Authority at a Level 4 certificate under the Malta Qualifications Framework;

(c) two thousand five hundred euro (€2,500) when the relevant certificate is determined by the Corporation to qualify as an industry-recognised certification;

(d) one thousand euro (€1,000) and an additional fifty euro (€50) for each European Credit Transfer and Accumulation System unit or for every twenty-five (25) tuition and learning hours for any relevant certificate that is classified as a Level 5 certificate under the Malta Qualifications Framework;

(e) fifty euro (€50) for each European Credit Transfer and Accumulation System unit or for every twenty-five (25) tuition and learning hours for any relevant certificate that is classified as a Level 5 certificate under the Malta Qualifications Framework;

(f) seventy-five euro (€75) for each European Credit Transfer and Accumulation System unit or for every twenty-five (25) tuition and learning hours for any relevant award that is classified as a Level 6 certificate under the Malta Qualifications Framework;

(g) one hundred and seventy euro (€170) for each European Credit Transfer and Accumulation System unit or for every twenty-five (25) tuition and learning hours for any relevant award that is classified as a Level 7 or 8 certificate under the Malta Qualifications Framework:

Provided that the attainment of a doctorate degree or equivalent may be supported at seventy per cent (70%) of the total eligible costs irrespective of the number of European Credit Transfer and Accumulation System units;

(h) one hundred and seventy euro (€170) for each European Credit Transfer and Accumulation System unit or for every twenty-five (25) tuition and learning hours for any relevant award that is classified as a Level 6 certificate under the Malta Qualifications Framework:

Provided that:

(i) the tax credits referred to in this rule may not be claimed if the study costs have been fully or partially financed through other public funding sources or through third parties, QUALIFICATIONS

unless the funding is to be repaid in full by the individual;

(ii) the tax credit awarded as referred to in this rule shall be due as a deduction from the tax payable by the individual on his chargeable income from the year of assessment following the calendar year in which the relevant award is attained or the year of assessment following the calendar year in which the tax credit is awarded as shall be determined by the Corporation; and

(iii) any tax credit awarded which is not absorbed by the tax payable for that year of assessment may be carried forward to be allowed as a tax credit for the subsequent fifteen

(15) years of assessment and such tax credit shall remain effective subject that such tax credit is utilised in a continuous manner throughout the subsequent fifteen (15) years of assessment.