This page offers an overview of tax developments being reported globally by KPMG member firms in response to the Novel Coronavirus (COVID-19).
The content will be updated regularly. However, due to the fast-moving pace of change, it may not always reflect the most current developments in a given jurisdiction. Please refer to the date of accuracy and refer to the relevant links, under additional information, for original source information.
Morocco has reduced its key interest rate to 1,5% and released 3,3 billion dollars to fight against coronavirus. The Kingdom has also put in place a Business Intelligence Committee (Comité de Veille Economique or CVE) to look at Morocco’s economical situation under the Coronavirus crisis and to take appropriate measures. The CVE includes Morocco’s relevant Ministries, banking professionals’ federation, private sector association, Chambers of commerce, industry and services federation and chambers of crafts federation. The CVE has already taken some measures related to tax, employment and economy stimulus.
The Rectifying Financial law for FY 2020 has included provisions allowing the non application of penalties for delays caused by the crisis on the following: