Morocco Offers Tax Relief and Loan Moratorium to Aid Tourism and Textile Sectors Amid COVID-19 Crisis

These are the suspension of CNSS contributions and the moratorium on bank loans, effective from Monday, March 23, 2020, even if the employers’ association was asking for more. In particular, the suspension of social security contributions for all companies affected by the crisis, as well as CNSS inspections, tax inspections by customs and the CNSS. This decision was taken on Monday, during the first meeting of the strategic monitoring committee.

The objective of these two measures is to support companies in order to mitigate the consequences of the Coronavirus. The aim is to relieve the cash flow of companies. The terms and conditions for the application and enjoyment of these measures are contained in a guide, currently being prepared by a committee created for this purpose.

In order to help companies during this critical period of Coronavirus, it is requested to put an end to third-party detention notices, a forced collection procedure that frightens companies. It is also planned to grant a compensation for loss of employment to those who have been the subject of an economic dismissal, family allowances for a period of six months, health insurance and retirement points. Other facilities are requested, always to allow companies to effectively cope with the consequences of COVID-19.