S.L. 123.220 Art. 4Attainment bonus tax credit.

(1) Irrespective of any funding awarded, including funding from public funding sources in addition to any tax credit awarded in accordance with this rule, an individual who attains a relevant qualification:

(a) at Level 6 under the Malta Qualifications Framework which is determined by the Corporation to qualify as a STEM qualification shall be entitled to an attainment bonus tax credit of three thousand euro (€3,000);

(b) at Level 7 under the Malta Qualifications Framework shall be entitled to an attainment bonus tax credit of three thousand euro (€3,000);

(c) at Level 7 under the Malta Qualifications Framework which is determined by the Corporation to qualify as a STEM qualification shall be entitled to an attainment bonus tax credit of five thousand euro (€5,000); and

(d) at Level 8 under the Malta Qualifications Framework which is determined by the Corporation to qualify as a STEM qualification shall be entitled to an attainment bonus tax credit of ten thousand euro (€10,000).

(2) Up to half of the attainment bonus tax credit, shall be utilised in the third (3) year of assessment following the year in which the qualification is attained and the remaining half of the attainment bonus shall be utilised in the fourth (4) year of assessment following the year in which the qualification is attained and any attainment bonus tax credit which may not be utilised, shall be forfeited and shall not be carried forward to any subsequent years. In the relevant years of the attainment bonus tax credit, the tax credit may be utilised prior and in conjunction with the Get Qualified tax credit awarded under rule 3.