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Draft Finance Law 2024.. demands reform of value-added tax and local taxes

The News GlorybyThe News Glory
02/09/2023
Draft Finance Law 2024.. demands reform of value-added tax and local taxes

During a press conference on economic income, Laalj stressed that the recommendations of the General Confederation of Moroccan Enterprises regarding the Finance Law of 2024, deposited with the Ministry of Economy and Finance at the beginning of July, reflect the interests and concerns of companies of various sizes.

He added that important progress has been made in the field of developing the fabric of entrepreneurship during the first three quarters of the year 2023, but these achievements, which were achieved thanks to a strong and effective partnership between the public and private sectors, are considered “insufficient”, calling for accelerating the pace during the coming weeks and months so that For this fabric to become more competitive and able to face the challenges posed by the complex and volatile global situation characterized by unprecedented inflation.

With regard to social dialogue, Mr. Laalaj recalled the tripartite agreement signed, in April 2022, between the government, trade unions and the CGEM, noting that a timetable has been established with deadlines set in order to ensure that the social partners comply with the obligations entrusted to each of them, including the two increases in The minimum wage, the issuance of a law related to strikes, and the amendment of the Labor Code, which is more than 20 years old.

He considered that developing quality jobs essentially requires issuing a law related to strikes and updating the labor code, which, in turn, must necessarily keep pace with the requirements of the investment charter, highlighting the importance of access to financing as well as to public orders, and to quality professional training that responds to the needs of enterprises.

In addition, Mr. Laalaj pointed out that the General Confederation of Moroccan Enterprises has received a set of regulatory texts from the Ministry of Energy Transition and Sustainable Development, which are currently being studied by the concerned unions, stressing that “the issue of reducing energy costs and accelerating decarbonization is an imperative for the development of our industrial fabric.”

He added that the General Confederation of Moroccan Enterprises encourages and continuously accompanies its members with the aim of private investment reaching two-thirds of total investment by 2035 and creating sustainable and high-quality job opportunities, in addition to placing climate issues and corporate social responsibility at the center of the federation’s priorities.

For his part, Vice President of the General Confederation of Moroccan Enterprises, Mehdi Tazi, stressed that the basic pillars for achieving economic recovery, especially in the field of financing, are the launch of the investment charter and the ongoing activation of the Mohammed VI Investment Fund, to which an initial capital of 15 billion dirhams was allocated from the budget. The state, as well as implementing the “Tatweer” program for research, development and innovation, as well as approving a new law related to performance deadlines, in addition to developing new programs dedicated to small and medium enterprises, entrepreneurship, and enhancing employability.

At the social level, he highlighted that the main levers are the Labor Code, which falls within the framework of the measures accompanying the Investment Charter, as well as the projects included in the program of the General Confederation of Moroccan Enterprises, especially those related to energy, logistics, industry, the service sector, information technology, and support for emerging companies.

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