Highlights

Mr. Mohamed BENCHAABOUN, Minister of Economy and Finance reviewed the main provisions of the PLF 2019, emphasizing the « social » and « solidarity » aspects in the PLF, during the press conference held October 23rd 2018 at the headquarters of the MEF, in the presence of Managing Directors and Directors from the Ministry.

In this regard, the Minister stressed that the budget devoted to social sectors including education and health sectors increased respectively from 62.953 billion dirhams in 2018 to 68.275 billion dirhams in 2019, and from 14.790 billion dirhams in 2018 to 16.331 billion dirhams in 2019.

For the "solidarity" aspect of this Bill, the Minister explained that a business solidarity contribution is intended. It represents 2.5% of the tax benefit which is higher than 40 million dirhams. 300 businesses are involved in this action, he announced, and this for the year 2019 and 2020.

The PLF 2019, he noted, aimed also to give a new dynamic to the investment, the support of the company and the consolidation of "the confidence" of the entreprise to promote investment, and this through several actions and incentives.

There is a special emphasis on the SME and the VSEs, in particular through the "final clearance of the problem concerning VAT credit" and the acceleration of repayments for both public and private companies, stated Mr. BENCHAABOUN.

Reducing payment delays is one of the implemented measures that will be regularly and closely monitored via ad hoc devices and mechanisms, added the Minister.

In the same vein, and in order to encourage SMEs and the VSEs, the PLF 2019 foresees to review the current scale of the corporate tax (IS) to adjust it to the specificities of the SME, he announced.

The PLF 2019 provides several legislative and regulatory initiatives to enhance investment and entrepreneurship, including the reform of the Regional Investment Centers, or the development of the investment charter, which is being finalized.

Public investment is not on the sidelines, the PLF 2019 devoted an overall budget of 195 billion dirhams to this area.

The Minister's presentation raised a series of questions from the journalists that had attended the conference, and to whom the Minister gave the necessary clarifications. These questions focused mainly on the assumptions based on this PLF, the macroeconomic balances, the solidarity aspect of the PLF, the compensation, the indebtedness, the incentives for private investment ...