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    House of Representatives Examines Amendments, Votes in Committee for First Part of 2021 Appropriation Bill

    12 Nov 2020

    Rabat - The finance and economic development committee in the House of Representatives began, on Wednesday, examining the amendments and voting on the first part of the 2021 Appropriation Bill.

    On this occasion, chairman of the committee Abdellah Bouanou said that around 185 amendments were received from the various parliamentary groups, divided between the majority (32), the Istiqlalian group of unity and egalitarianism (56), the Modernity and Authenticity group (47), the Progress and Socialism grouping (20), two deputies (10) and the government (20).

    'These amendments concerned various aspects, including indirect taxes, the protection of the Moroccan product and the creation of an equilibrium in the trade balance', he noted, adding that they are also based on tax exemption for sectors and businesses affected by the Covid-19 pandemic and the incentives to offer them.

    The chairman of the committee also underlined that the parliamentary groups, majority and opposition, agreed on two essential points, including the single professional contribution for fixed sums, in particular after the two royal speeches of July 29 and of the opening of the legislative session, which focus on social coverage.

    The 2021 Appropriation Bill proposes a series of measures aiming to institute a solidarity-based contribution on the profits and income of companies, whose net profit is equal to or greater than 5 Mln MAD and on individuals with an overall net income of 120,000 dirhams per year.

    It also provides for an amount of one billion dirhams for the annual contribution of the State to the integrated program of support and the financing of enterprises and the enrichment of the financing offer thanks to new mechanisms of guarantee and financing, intended mainly for very small enterprises (VSEs) and young project holders, as well as to support exports.

    The bill is based on three major guidelines, namely the acceleration of the implementation of the recovery plan for the national economy, the launch of the first phase of the generalization of social coverage, from January 21, 2021, and the strengthening of the bases of the exemplary nature of the State and the optimization of its functioning.


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