Updated: Refund scheme for bicycle purchases announced

Updated - adds application details - A refund scheme to encourage people to buy bicycles was among three initiatives launched today by the Minister of Finance and the Parliamentary Secretary for Sport.

The other schemes are aimed at helping sports associations buy equipment, and helping athletes take days off from their normal jobs for sports training, without losing their income.

Details were given by Finance Minister Tonio Fenech and Clyde Puli, Parliamentary Secretary for Sports.

Mr Puli pointed out that the bicycles subsidy scheme was originally launched as a pilot two years ago and had been considered a success, with refunds having been given to 1,920 people.

This year, the government is allocating €50,000 for refunds on the purchase of bicycles. The fund will be of 15.25% of the purchase price, which the minister said, was practically equivalent tot he refund of VAT.

Referring to the scheme to help athletes, Mr Fenech said the government could not expect the private sector to shoulder the burden of sports training by its employees.

Therefore athletes in national teams who take unpaid leave from their jobs for sports training or sports activities would be compensated by the government. A total of €150,000 have been earmarked for the purpose by the government.

In the third scheme, accredited sports associations would be refunded 15.25% on the purchase price of  sports equipment. Mr Puli said a €250,000 fund had been created for this purpose. The government, Mr Puli said, wanted to encourage sports associations to invest in new equipment and facilities, and various schemes were available for this purpose through the Malta Sports Council.

Applications for the schemes can be made on the forms available from finance.gov.mt or the website of the KMS Malta Sports Council.