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Moroccan Parliament Approves Amending Finance Bill for 2020

21 July 2020

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Approved Changes

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Morocco

Morocco's House of Councilors (upper house of parliament) reportedly approved the Amended Finance Bill for 2020 on 17 July 2020, following its approval by the House of Representatives (lower house) on 13 July. The main tax measures of the bill are largely in response to the COVID-19 pandemic, and include: A 6-month deadline extension for agreements entered into by property developers with the State for the implementation of social housing construction programs, where the agreement deadline expires between 24 March 2020 (beginning of the state of emergency) and 31 December 2020; The allowed deduction of the following, which are to...