This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press – Rabat
The National Labor Union in Morocco called on the Advisory Council to increase taxes on certain large companies, such as oil companies, motor oils, natural gas, telecommunications, cement, in addition to insurance companies and reinsurance, up to 40%. %.
This happened during the meeting of the Finance, Planning and Economic Development Committee, held on Monday, December 2, 2024, during which Khaled Al-Sati and Lubna Alawi, members of the Council of the National Labor Union, presented amendments to the bill. Finance law for the year 2025. They called for a reconsideration of the tax rate applied to these companies which make enormous profits, with the aim of raising additional financial resources to finance social programs.
The union also called for new categories to be added to the list of those exempt from income tax, including retirement pensions, in a bid to improve their living conditions.
The amendments also provided for the tax exemption of pensions and compensation paid to retirees and their dependents. In addition, the union called for reducing the tax burden on families whose children study in private educational institutions, in order to improve the purchasing power of these families in the face of the continued rise in the cost of living.
