The Moroccan Government Endorses the Outline of 2019’s Budget

  • Rabat, Morocco
  • 12 October 2018

The Moroccan government has approved a new fee of 3% for companies with a net profit of 50 million dirhams ($5.3 million), as part of a cabinet endorsement under the chairmanship of King Mohammed VI of the 2019 budget.
The budget included a revision of the corporate tax rate to encourage small and medium enterprises, increase the budget of the social sectors and staff expenses, as well as several measures to control the budget deficit and limit it to 3.7 percent.
One of the most prominent trends in the 2019 budget project presented by Morocco's Minister of Economy and Finance, Mohamed Benchaaboun, is to increase the government's regular expenditure by 9 percent in 2019 to 234 billion dirhams ($24.6 billion), which includes an increase of 2.9 percent to 112 billion dirhams ($11.8 billion), as well as an increase in the budgets of the social sectors, especially the education budget, which rose by 7.3% and the health budget, which will rise by 10.1%.
In terms of tax reforms, the government decided to review the middle price and the highest rate of tax on corporate profits.

Source (Al-Sharq Al-Awsat newspaper, Edited)

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