In light of the large and “immoral” profits that fuel companies in Morocco constantly make, especially in recent years, and after the liberalization of this article of support, the government objected to a parliamentary proposal to raise the tax imposed on these companies.
The proposal, submitted by both the Progress and Socialism Group in the House of Representatives and the Justice and Development Group in the same House, stipulates raising the tax on fuel and telecommunications companies by 40 percent, as is the case with credit institutions and bodies considered to be in their jurisdiction, the Bank of Morocco, the Fund for Deposit and Management, and insurance and reinsurance companies, so that they contribute In the state budget as long as it increases the percentage of its profits without the consent of Moroccans.
But Akhannouch’s government rejected this proposal, considering that taxing fuel companies at such a high rate would cause them to go bankrupt.
The Minister Delegate in charge of the budget, Fawzi Lakjaa, explained that everyone is talking about the fact that the fuel sector includes 20 companies, while there are only 6 companies, and if the remaining 14 companies were to apply the corporate tax at a rate of 40 percent, two-thirds of them would not be able to withstand this tax pressure. Which will cause it to go bankrupt, adds Minister Lakjaa.
