TAX-News.com
by Ulrika Lomas, Tax-News.com, Brussels
Morocco’s governing council has recently adopted during an extraordinary meeting the country’s 2013 finance bill, providing for a raft of fiscal measures.
Following the meeting, Morocco’s Communications Minister and government spokesman Mustapha El Khalfi revealed that the 2013 budget predicts growth next year of 4.5%, and for a reduction of the public deficit to 4.8% of gross domestic product.
According to El Khalfi, the government’s “ambitious” finance bill aims to tackle the constraints of the financial crisis, while at the same time enabling various strategic development projects to continue to support investment and to reduce social inequalities.
El Khalfi underscored that the budget contains a number of initiatives designed to improve the competitiveness of the national economy, to develop new industrial sectors, and to support and assist SMEs in Morocco.
However, the government aims to increase tax revenues in 2013 by 5.1% compared with 2012, an amount equivalent to MAD8.7bn (USD990m).
The 2013 finance bill is due to be presented to parliament shortly.
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