Home / Finance & Economy / Oxfam denounces the benefits granted to multinationals in Morocco

Oxfam denounces the benefits granted to multinationals in Morocco

The NGO Oxfam called on Monday to make taxation “an instrument for reducing inequalities” in Morocco, a country where growth benefits “a very small number of very wealthy people,” according to the organization.

Two days before the tax meeting, Oxfam pointed out the tax benefits granted to multinationals through free zones and their subcontractors, with the only counterpart job creation. On another note, the NGO has estimated that the tax system faces several shortcomings, notably the non-application of VAT, which represents 30% of tax revenue, to many sectors because of the tax exemption or their informal situation.

Regarding income tax, Oxfam points out that three-quarters of the revenue is provided by public and private employees. Same observation on the corporate tax that a large part of companies do not pay. In addition, the NGO regrets that in 2018, “the three richest Moroccan billionaires alone held $ 4.5 billion, while the opposite extreme, 1.6 million people” were in “poverty situation “.

Check Also

The flow of FDI down by 31% in Morocco

The net flow of Foreign Direct Investments (FDI) reached 3.325 billion dirhams at the end …

Leave a Reply