Morocco to Slash Tax Penalties for Bounced Checks, Easing Bank Restrictions
Bank defaulters are about to regain the ability to issue checks again. A draft law, endorsed on Tuesday by the Commission on Productive Sectors, proposes to drastically reduce tax penalties.
With draft decree-law 2.20.690, the government makes no secret of its desire to replenish the state’s coffers by encouraging the regularization of payment incidents.
As soon as the draft law is published in the Official Bulletin, tax penalties related to bounced checks will be reduced by 90%. This "amnesty" will last until March 31, 2021.
Tax penalties, currently regulated by Article 313 of the Commercial Code, will temporarily be reduced to the following rates:
• 1st injunction: 0.5% instead of 5%
• 2nd injunction: 1% instead of 10%
• 3rd injunction and more: 1.5% instead of 20%.
Related Articles
-
220 dirhams on construction sites, up to 400 in the fields: Morocco lacks workers
25 August 2026
-
This Israeli company equips defense giants and also has clients in Morocco
24 August 2026
-
After three days in Algeria, a sanctioned Russian ship passes near Morocco
24 August 2026
-
In Brussels, a Moroccan name and being over 50: the profile most disadvantaged in hiring
24 August 2026
-
Morocco Has a New Billionaire Forbes Has Yet to Spot
24 August 2026