Covid-19/Morocco: Measures Taken in Favor of Employees and Enterprises Include the Following

Employees, SME’s (Small and medium-sized enterprises), professional activities and taxation were at the heart of the measures agreed on Thursday in Rabat, at the end of the second meeting of the Economic Intelligence Committee (CVE).

In a statement to the press at the end of the meeting, the Minister of Economy, Finance and Administrative Reform, Mohamed Benchaaboun, said that measures were agreed on this occasion and concern the social component for staff in cessation of activity, the companies most affected by the crisis and taxation.

As for employees, who are affiliated to the National Social Security Fund (CNSS), they will receive a monthly lump-sum allowance of MAD 2,000 net, family allowances and benefits from the Compulsory Health Insurance (AMO), he noted, adding that this support will be provided by the Special Fund for the Management of the Coronavirus Pandemic.

These employees will also be able to benefit from the postponement of the repayment of bank loans, namely consumer credit and buyer credit, until June 30, he said.

Concerning the SMEs and liberal professions in difficulty, the minister indicated that the measures concern the suspension of the payment of social security charges until June 30, 2020, the establishment of a moratorium for the repayment of bank loans and leasing until June 30 without payment of fees or penalties and the activation of an additional operating credit line granted by banks and guaranteed by the Central Guarantee Fund (CCG).

Within the tax field, it has been agreed that companies whose annual turnover in 2019 is less than MAD 20 million (MDH) can, if they wish, benefit from a deferment of the filing of tax returns until the end of June with a suspension of tax inspections and ATDs until June 30, 2020.

The third meeting of the CVE, scheduled for next Monday, will be devoted to the examination of a new series of measures which will be put to the benefit of employees not affiliated to the CNSS and who operate in the informal sector.

The Economic Watch Committee, whose work is coordinated by the Minister of Economy, Finance and Administrative Reform, includes among its members the Ministry of the Interior, the Ministry of Foreign Affairs, African Cooperation and Moroccans Living Abroad, the Ministry of Agriculture, Maritime Fisheries, Rural Development and Water and Forestry.

It also includes the Ministry of Health, the Ministry of Industry, Trade, Green and Digital Economy, the Ministry of Tourism, Handicrafts, Air Transport and Social Economy, the Ministry of Labor and Professional Insertion, Bank Al-Maghrib, the Professional Grouping of Banks of Morocco, the General Confederation of Enterprises of Morocco, the Federation of Moroccan Chambers of Commerce, Industry and Services and the Federation of Craft Chambers.

The various members of the committee are called upon, each in its field of intervention, to set up sectoral monitoring mechanisms by associating the actors concerned.

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