Morocco’s Head of government, Aziz Akhannouch confirmed this Thursday, December 23, the full repayment of VAT returns due by the state to businesses by April 2022. The businesses’ collective tax return amounts to MAD 13 billion.
Government spokesperson Mustapha Baitas announced the government council’s decision yesterday during the weekly press briefing, saying that “MAD 1.5 billion will be distributed before the end of 2021.”
Over MAD 2.5 billion has already been distributed, MAD 1.5 billion will be released next week before the end of the year, while MAD 9 billion is set to be distributed before the end of April next year.
The accelerated measure aims to supply Moroccan companies, especially small and medium enterprises (SMEs), with enough liquidity to encourage economic recovery and incentivize investment, job creation, and overall growth.
Akhannouch had promised to the House of Representatives that the returns will be fully delivered by April 2022 back in November of this year, in a plenary session in parliament.
The decision came to fruition following a meeting held between the General Tax Directorate and the General Confederation of Moroccan Enterprises on this subject back in early December, where both parties had announced an acceleration of the payment of VAT returns, with the release of at least MAD 1 billion prioritizing SMEs.
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