Morocco Extends Tax Filing Deadline, Offers Income Tax Relief Amid COVID-19 Crisis

The CVE continues to reflect on the need to launch a new series of measures in light of the developments observed since the beginning of the state of emergency. The CVE also decided to exempt from income tax "any additional allowance paid to employees (affiliated with the National Social Security Fund) by their employers, up to a limit of 50% of the average monthly net salary," according to a statement from the Ministry of Economy, Finance and Public Administration Reform.

On the administrative level, the committee appreciates at their fair value "the measures of flexibility aimed at avoiding that companies holding public contracts bear penalties for delays in execution that are not attributable to them". Moreover, a circular from the ministry in charge of finance will be disseminated shortly on the matter, reports the MAP.

Regarding the governance of public limited companies, the ministry points out that a bill is already looking into the introduction "of the necessary flexibilities allowing remote meetings, in this period of health emergency, of the deliberative bodies, especially the closing of accounts".

For the CVE, "the ability of the Moroccan economy to overcome this crisis will necessarily involve close collaboration between the State and businesses". The Committee ensures that it will ensure "compliance with the rules for granting aid to companies in difficulty". Moreover, "a decree on the new conditions for granting is being finalized," the ministry notes.