9,364 beneficiaries were granted the total sum of €23,910,646 in tax credits between 2013 and 2019 through the Malta Enterprise's Get Qualified Scheme initiative, which is administered by the Ministry for Education and Employment through the National Skills Council, a government statement read.
The Get Qualified Scheme is an initiative that supports the personal development of individuals for the achievement of qualifications and certifications required by industry.
During the period indicated, there was a significant increase of beneficiaries who benefitted from this scheme when compared to the period 2006-2012, when 3,710 beneficiaries were granted the total amount of €11,535,124 in tax credits.
The incentive is applicable to individuals following a course of studies leading to a certification, diploma, degree, or post-graduate degree courses. Upon successful completion, the student will benefit from a tax credit enabling them to recover part of the costs incurred.
"This is a scheme aimed for students during one of the most important phases of their life, when they are in the midst of their studies, as it not only helps them to better their education, but also during a phase when they are choosing their future career and are doing their utmost to get their much-needed qualifications. We will continue to better schemes and other incentives in these two important fields so that all sectors of our society benefit from them for the development and advancement of each and every one of us", said Minister for Education and Employment Owen Bonnici.
"In view of Malta's economic success, it is of utmost importance to keep on investing in our human resources whilst strengthening the skills of our workforce. The success of schemes such as this show that they're serving as essential tools which enables students to pursue further their studies through a financial aid that lessens unnecessary burdens. Thus as a Government we shall keep on strengthening existing schemes and where needed introduce new ones to create new educational opportunities as well as quality jobs", said Minister for the Economy, Investment and Small Business Silvio Schembri.
By means of this scheme, students pursuing courses approved by the Ministry for Education and Employment are granted a tax credit on payments made to a university, institution or entity for training and also education services that lead to to the approved qualification and also for payments for examinations leading to an approved qualification.