Morocco Unveils Economic Relief Measures Amid Coronavirus Crisis

Pending consideration of the situation of other employees, the committee decided to grant a net monthly allowance of 2,000 DH per month to employees declared to the CNSS for February 2020.

In addition to this allowance, these employees will benefit from family allowances paid according to the regulations in force for February 2020 for companies in a situation of total or partial shutdown, during the period from March 15, 2020 to June 30, 2020. To these rights are added compulsory health insurance (AMO) for the same period, thanks to the Special Fund for the management of the Coronavirus pandemic.

For SMEs-VSEs and professional activities, the committee has taken measures, particularly with regard to bank loans, the maturities of which may be postponed until the end of June, and leasing. As for the maturities, they may be postponed for companies that will have to stop their activities. Those that will continue, due to the economic situation, will be able to benefit from additional lines from the banks thanks to additional guarantees that will be put in place shortly by the Central Guarantee Fund.

Regarding VSEs, the minister recalled that they will benefit from a suspension of social security contributions. As for the postponement of the filing of tax returns from March 31, long awaited by economic operators, the minister announced that it is mandatory for companies whose 2019 turnover is over 20 MDH to file their returns within the legal deadline. Furthermore, those whose turnover is less than 20 MDH may, if they wish, postpone the declaration until the end of June. The suspension of tax audits and ATDs will be effective until June 30, 2020.