Reimbursement of VAT Credits: 'Very' Positive Signal to SMEs (CGEM)

29 November 2021 Printable Version

Casablanca - The refund of arrears of value added tax (VAT) credits, announced by the Head of Government on Monday at the House of Representatives, is a "very" positive signal to economic operators, especially very small, small and medium-sized enterprises (SMEs), said chairman of the Moroccan Employers’ Association (GCEM), Chakib Alj.

"The CGEM welcomes and congratulates the Head of Government, Aziz Akhannouch, for his announcement today in Parliament of the repayment, by the end of March 2022, of the entire stock of VAT due to the private sector by the Administration, which amounts to 13 billion dirhams. This is a "strong" message and a "very" positive signal given to economic operators, SMEs in particular, whose cash flow is under pressure, especially due to the crisis related to Covid-19 which continues," Alj told MAP.

This decision, he noted, is also in line with the recommendations of the report on the new development model and the Third National Tax Conference to achieve VAT neutrality as an economic priority.

The members of the CGEM, strongly committed to the economic development of the country, welcome the efforts made by the state in support of the recovery, under the leadership of His Majesty King Mohammed VI, said Alj.