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Tuesday 30 November 2021

Reimbursement of VAT Credits: 13 Billion Dirhams to Be Allocated from Next December (Head of Government)

Reimbursement of VAT Credits: 13 Billion Dirhams to Be Allocated from Next December (Head of Governm

A total of 13 billion dirhams will be earmarked, starting next December, to reimburse the arrears of the credits of the Value Added Tax (VAT) and this, in order to allow the companies to have important liquidities in their treasury, announced, Monday in Rabat, the head of the government, Aziz Akhannouch.

"The government is committed, from the current year, to clean up the arrears of VAT credits for the benefit of private sector companies. From next December and before the end of the first quarter of 2022, 13 bln dirhams will be allocated to repay the arrears of VAT credits," said Akhannouch during the monthly session devoted to public policy in the House of Representatives on the theme "Government Action Plan to strengthen the establishment of the social state".

The objective is to enable companies, especially small and medium enterprises (SMEs), to have significant liquidity in their cash flow, in order to withstand the health crisis of covid-19 and engage in the dynamics of creating value added and employment opportunities, he stressed.

The government, aware of the role of investment and the economic dimension in supporting the pillars of the social state, has adopted an economic policy based on five main axes, namely the immediate recovery of the national economy, the establishment of a national and regional program to support start-ups in promising sectors, the implementation of structural reforms to support the national economy, the implementation of ambitious sectoral policies at national and regional levels, in addition to the establishment of an effective policy to support the economic activity of women, said Akhannouch.

In this regard, he went on, the government adopts specific measures that concern the establishment and implementation of an emergency policy to accompany those excluded from the labor market and support businesses in difficulty.

This involves support and funding, promoting private initiative by overcoming organizational and administrative barriers, creating a competitive advantage, supporting the development of competitive and innovative companies, as well as protecting the "Made in Morocco" to support domestic production, said Akhannouch.

MAP 29 November 2021