Wednesday , April 1 2020
Home / morocco / exporters protest, Benchabun defends

exporters protest, Benchabun defends

The new PLC 2020 measures aimed at exporting industrialists are concerned about these, in the context of fierce international competitiveness. However, Finance Minister Mohamed Benchaboun defends his proposals.

After issuing a communiqué, warning of the "major risks" of the new measures proposed in the Finance Companies 2020 export law, Asmex (Morocco Exporters Association) organized a meeting this Friday, November 8th in Casablanca with Minister of Economy and Finance Mohammed Bencha Minister of Commerce and Industry Mulai Hafid Elalami on the subject.

The association, whose members are deeply concerned that it has created a crisis unit around this PLC, is particularly afraid of two proposed measures; it means lifting the five-year tax exemption on new exporting companies' initial acts and above all raising the corporate tax rate from 17.5% to 20%.

"It is gratifying to say that these provisions have the effect of a cold shower on the few regular exporters that remain in our country," said Jakim Marakichi, Asex's vice president.

"We recognize that the financial effort caused by these measures is small at the macro level, but it must be said that on the basis of taxation and after the debate on the new model of development let our expectations and our expectations foretell essential confidence measures and enhance our competitiveness. "He added.

In this regard, the association sent the Minister of Finance a list of 25 measures to improve the competitiveness of export supply that exceeds the range of SI. An offer that, according to him, suffers from various dangers.

"The competitiveness of exporting companies has deteriorated seriously in recent years: labor prices have risen by 80% over the last decade, and energy by more than 60% over the same period. , the national currency has increased appreciation against almost all currencies, especially against the euro and the pound sterling, which remain our main markets, but also against all currencies of competing countries. for all these reasons, there are not many companies that export regularly while making significant profits, "he explained.

"The challenge is not IS, but the possibility of exporting"

Finance Minister Mohammed Benchaabun, meanwhile, believes that the PLC and other exhibits of complaints from exporters do not fully meet: "The export sector problem is another subject that is much wider than the PLF they were dealing with only changes at the SI level, "he said. It also believes that the impact of the IP rate hike remains minimal.

According to him, 98% of exporting companies pay less than one million dirhams of IS: "Of the 11,854 tax-exempt exporters, 200 companies only pay more than one million dirhams in IS," he revealed.

Defending his proposals, the minister said that for him, the real challenge for this majority of small and medium-sized exporters should grow first: "What matters most is that every year 200 or 300 companies can reach the big leagues and export more, and instead of earning 100, they can earn 1,000. At that point, the tax + 2.5% would not be significant anymore, and we could even repay them under other forms to have more support, "he said.

The minister reminded that if the reduced corporate tax rate falls from 17.5% to 20% for company exporters, the marginal corporate tax rate of 31% for all companies will be reduced to 28%.

Since entities with 100% of their export turnover are in the minority, the majority of export companies will realize a tax savings on part of the locally generated turnover that will fully or partially offset the increase in turnover. ON SALE.

"More than 65% of export companies are industrial, but we analyzed them one by one and found that those doing 100% export could be counted on toes, and that a combination of the two measures would allow the vast majority of these companies to win. IS level, ”claims Mohammed Benchaaboun.

"I still think the challenge for our country and for the economic operators is not at the IS level, but in our ability to export. we work together, "he concluded.

Source link