Morocco seeks to increase tax revenue

Morocco seeks to increase tax revenue

Morocco’s lower house adopted a draft bill on tax reform that aims at achieving tax equity and boosting state tax revenues to fund development projects.

The new text also aims at curbing the tax evasion and reduce the size of the informal sector, while making tax incentives more rational in case of the absence of other means of direct budgetary support by the government.

Youth-led innovative enterprises and startups will have a preferential system along with initiatives that aim at bringing together the self-employed under the umbrella of a single company.

Morocco’s tax revenue dropped 5.4% in 2020 compared to a year earlier.

The parliament also adopted a draft text aiming at improving the performance of state-owned enterprises.

Earlier on Thursday, the government council approved the creation of an agency to restructure and monitor state-owned enterprises.

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