Small businesses criticize financial taxes 2023

Small businesses criticize financial taxes 2023
Photo: WAM

Wednesday, October 26, 2022 – 12:05

The Moroccan Confederation of Small, Small and Medium Enterprises said that the 2023 finance bill does not include any tangible solutions to support the business fabric that consists mainly of small and medium enterprises.

The Confederation stated, in a press release, that the government has resorted to raising corporate tax from 10 to 20 percent over a period of 4 years for companies whose turnover is less than 300,000 dirhams per year, which represents the majority of very small and medium-sized enterprises.

The same authority indicated that this decision “can push the owners of these companies to move towards the informal sector, and will also generate conflicts and tensions with the National Social Security Fund and the Tax Authority.”

And the Confederation stated that “micro, small and medium-sized companies and self-contractors are in the process of re-operating after a two-year emergency shutdown due to the Covid crisis, without the Government taking real support measures aimed at following the swing”. to them.”

The statement warned against contracting companies facing a “difficult situation due to inflation and a significant increase in the prices of fuels and raw materials, since the situation has become intolerable for this category of contracting, since it has a vision unclear future”.

The same authority suggested that the government adopt tax exemption, tax relief and social security measures in arrears, in addition to canceling sanctions and fines, launching financing programs and rescheduling credits under the “Intilaqah” program and the “Oxygen Guarantee” program. ”. to reduce the financial burden of very small, small and medium-sized businesses.

taxes Moroccan Confederation of Small Businesses finance bill